Buy Now, Pay Later (BNPL)

[Hydrogen]

Installment buying is important in places disrupted by high inflation and low employment opportunities. Its a necessity to people being able to live and survive. In places like venezuela, it has been reported that many are forced to resort to installment purchasing plans to afford items which cost less than $20. In order to afford food and necessities.

I guess what makes it difficult in some regions of the world, are the interest rates. High interest payments, rather than installment buying, are likely what consumers would take issue with. Borrowing is another popular plan in high inflation regions. In cases where interest rates are lower than inflation, loans become an increasingly better prospect to consumers. The way this works is, if a loan is taken out with 5% annual interest and inflation is 10%. Money is devaluing at a greater rate, than interest, which makes it easier to pay off.

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[Wong Goblog]

Creditors always provide ease of loan in the hope that everyone is interested in borrowing, of course behind the ease there is interest to be paid, most people think that they are able to pay the installments, but when problems occur then he feels the person who is harmed and regret.