Record Number of Americans Using 'Buy Now, Pay Later' Apps Amid Surging Inflation in Biden's Economy

SOURCE www.breitbart.com
Record number of Americans using 'buy now, pay later' apps amid surging inflation in Biden's economy. 6.5% of Americans, approximately 15 million, using BPNL apps for groceries. Major retailers like Walmart, Amazon, and Trader Joe's offer these apps. Gen-Z also using BPNL loans for various items. President Biden mentioned inflation has decreased, but it has been rising for the past three months.

Key Points

  • 6.5% of Americans, approximately 15 million, using BPNL apps for groceries.
  • Inflation has been rising for the past three months despite President Biden's statement.
  • Gen-Z actively using BPNL loans for various items.

Pros

  • Convenient payment option for consumers.
  • Allows for short-term loans with little to no interest.
  • Popular among low-income Americans and those with yearly incomes over $100,000.

Cons

  • May lead to increased debt if not managed properly.
  • Could potentially contribute to financial instability if used irresponsibly.