The Big Take
Billions in Phantom Debt Is Lurking In ‘Buy Now, Pay Later’ Services
Today on the Big Take: with more Americans taking advantage of ‘buy now, pay later’ services, economists worry they’re missing crucial debt data.
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“Buy Now, Pay Later” options have exploded in popularity and availability, and in the midst of stubborn inflation, Americans are even using them to buy essentials like groceries. But not all of the BNPL providers report data like credit card companies — and no one knows exactly how much debt consumers owe. On today’s episode, host Sarah Holder talks to reporters Paulina Cachero and Paige Smith, who tried to find out more about the size and scope of the debt.