CNN CNN Newsroom With Fredricka Whitfield June 4, 2024 17:49:00
Welcome back. as inflation continues to rise, buy now/pay later loans have been growing in popularity. the idea is that it helps shoppers spread out the cost of, say, furniture, clothing and even everyday essentials like groceries. now, a new report tells us more about who is taking advantage of these loans. nathaniel myerson is covering this for us. why is it grows and who are the borrowers? >> there's been a surge in buy now/pay later loans during the pandemic. jumped about 970% in 2021. the latest data available from 2019. they're appealing to customers because you can pay in installments f...