This Burrito Bowl dinner on DoorDash comes to $41, but thanks to Klarna, you can make four payments of $10.40 over the course of six weeks instead.
The buy now, pay later industry, or BNPL, has exploded as an alternative to credit cards.
We really believe the credit card industry is going the way of the VHS tape.
But will BNPL actually dethrone credit cards, or will they ultimately just be treated like credit cards?
This is "The Economics of Buy Now, Pay Later".
Three companies make up the bulk of the BNPL market in the U.S., though two initially found success internationally.
Afterpay co-founder Nick Molnar launched the company in Australia in 2014 to entice more people to make purchases at his jewelry store.
We built it, we tested it, and it became a very significant portion of our sales really quickly.
All of the top providers offer the typical pay-in-four, zero-interest installment loan that has become synonymous with BNPL.
Take that burrito bowl.
