It's winter 2020, New York City.

34-year-old Alicia Berman is standing at the checkout counter of an upscale apartment store.

She watches as the cashier removes the security tag from a puffy black jacket

made by luxury designer Kate. Excitement hums through her. It's a fabulous jacket. She can't wait

until it's officially hers. The cashier gives her a smile. Oh, I love this piece. So chic. And

you're getting a great deal.

I know. Thank God for post-holiday sales, right?

The jacket is marked down to $700, which is about 30% off. It's still expensive, but at full price, it would likely be completely out of reach for Berman.

The cashier gestures to the credit card reader to Berman's right.

Go ahead and top your card whenever you're ready.

I can use Clarna, right? Sure.

Clarna is a buy-now pay later app.

It's similar to a credit card in that Berman doesn't have to front all the money herself.

Instead, Clarna will pay the department store.

Then over the next two months, the app will automatically pull the money from Berman's bank account

in four installments.

Berman uses Clarna all the time.

As a fashion magazine editor, she feels it's imperative that she dress well. Using apps like

Klarna and its competitors, like Afterpay and a firm, are the only way she can afford to keep up.

Berman pulls out her phone, opens the Clarna app, and taps it to the card reader.

Berman frowns.

Uh, um, uh, let me try again.

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