[…] In recent years, split-pay options have gained popularity among consumers of all demographic groups looking for greater flexibility in managing their expenses. But it’s not millennial, Gen Z, or low-income consumers who are most likely to use these plans — it’s high-income consumers. This applies for all forms of split-pay options, including general-purpose plans from credit card issuers, those offered by merchants via store cards, and buy now pay later (BNPL) plans, although store card-based plans are preferred by these consumers. This fact challenges the assumption that high-income earners are averse to credit use. [PYMNTS] […]