Buy now, pain later: the layby movement’s existential crisis

(Image: Getty)

Thu, 09 Jun 2022

They started out with the worthy goal of disrupting the credit card companies and taking a digital-first approach to paying debt that better suits the needs of millennials.But the buy now, pay later (BNPL) market, dominated by the likes of Affirm, Klarna, Afterpay and New Zealand-founded Laybuy, is facing major headwinds as the cost-of-living crisis sees consumers tightening their belts and rising interest rates eat into margins.High-growth tech stocks have taken a hammering across the board this year, but the BNLP players have witnessed a deva...

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