The payment model known as 'Buy Now, Pay Later' (BNPL) has become increasingly popular among consumers. It allows them to make upfront purchases and defer payments over time.

This option is convenient and can even offer interest-free payments if settled on time. However, consumers should exercise caution as late payments can result in additional fees, and some services may charge interest for longer repayment periods.

With the growing popularity of BNPL, it is important for individuals to evaluate their financial health and spending habits before using these services. Understanding the terms and conditions associated with BNPL is crucial to avoid unexpected costs and ensure responsible usage. Financial experts advise consumers to ask important questions about the repayment structure and any potential penalties in order to make informed decisions about their purchases.