Buy Now, Pay Later (BNPL): A Global Overview of Architecture, Consumer Vulnerabilities and Regulatory Response

This article examines the rapid global expansion of Buy Now, Pay Later (BNPL) services, evaluating their transition from a niche payment option to a strong alternative in the consumer credit market. Driven by disrupting events and technological developments which changed consumer habits and digital commerce, BNPL offers frictionless, short-term installment loans while introducing significant behavioral and systemic risks among financially vulnerable populations. In response to these mounting ris