When food is paid in installments: more people resort to “buy now, pay later” for basic expenses. Installment payment options that were previously used in the US almost only for luxuries, are now used more for trivial expenses such as weekly groceries.
“It's a shame that we have to resort to these means,” said Benjamín Espinoza, 27, who uses Klarna to pay his refrigerator bill. Many borrowers turn to installment payment options to avoid credit cards and their interest rates of 20% or more.