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WSJ Tech News Briefing

Behind the Buy Now, Pay Later Boom

WSJ Tech News Briefing

The Wall Street Journal

Tech News, News

4.31.7K Ratings

🗓️ 21 December 2023

⏱️ 11 minutes

🧾️ Download transcript

Summary

Buy now, pay later services like Afterpay, Affirm and Klarna have been around for a while, but they exploded in popularity during the pandemic. Now, consumers are shifting more of their spending to buy now, pay later lenders. WSJ reporter Angel Au-Yeung joins host Alex Ossola to talk about how they work and why some consumer-advocacy groups say these services encourage shoppers to take on more debt than they can afford. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This episode is brought to you by Cracken.

0:03.0

Crippo is like the financial system, but different.

0:06.0

He doesn't care where you come from,

0:08.0

what you look like, your credit score,

0:10.0

or your outrageous food delivery habits.

0:13.0

crypto is finance for everyone, everywhere, all the time.

0:17.0

Visit Krakon.com slash see what crypto can be.

0:21.0

To learn more, don't invest in as you're prepared to lose all the money

0:24.9

you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

0:40.0

Welcome to Techn News Briefing. It's Thursday, December 21st. I'm Alex Ocala for the Wall Street Journal. Coming up on today's show, ever notice how when you search for something in your email inbox, you can never find it.

0:46.0

It's not just you. We'll learn how to search better with Daniel Fargis,

0:50.0

gear and gadgets editor at Off Duty.

0:52.0

And then, Buy Now Pay Later Services like Gear and Gadgets Editor at Off Duty.

0:52.6

And then, Buy Now Pay Later services like After Pay, A Firm,

0:56.2

and Clarna really took off during the pandemic.

0:59.1

Now, people aren't using them not just for big purchases

1:01.8

from online retailers, but for day-to-day expenses like

1:04.8

groceries.

1:05.8

W.S.J. reporter Angel O'Yung tells us how these services work and why consumers are shifting

1:10.9

more of their spending to buy now pay later lenders.

1:13.8

But first, why is it that when I search my email for my upcoming flight to Houston,

1:23.4

I get every single email that includes the word Houston.

...

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