Millennial Mind

Buy now pay later: Seductive draw for consumers but proceed with caution

'Buy now, pay later' apps are popular with the young but they need to be used prudently

BNPL applications like Atome partners with more than 5,000 leading online and offline retailers in the region. PHOTO: ST FILE
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SINGAPORE - The perfume cost $300. But if I used the buy now pay later (BNPL) app, the promoter said, it could be mine for $100 a month split across three months. No interest. No hidden cost.

Waiting in line at the cashier's counter at a cosmetics outlet last weekend, I was sorely tempted to take up the offer, but ultimately decided to forgo it, unwilling to get caught up in another BNPL payment cycle just yet.

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