![Central Banking](https://www.centralbanking.com/sites/default/files/styles/print_logo/public/2017-03/print-logo.png?itok=_maJqRIT)
Philly Fed study shows growth in ‘buy now, pay later’ products
Users of deferred-payment schemes are generally people in financial difficulty, say authors
![debt-direction debt-direction](/sites/default/files/styles/landscape_750_463/public/article_copied_files/debt-direction-580x358.jpg.webp?itok=ijAVvYHi)
More people are using buy now, pay later (BNPL) financial services, according to new research from the Federal Reserve Bank of Philadelphia.
In their report, authors Tom Akana and Valeria Zeballos Doubinko say that since 2019 there has been a rapid growth in the volume of transactions in which consumers pay for products in instalments.
One common method is “4-in-6”, whereby a consumer makes four payments during the six weeks following a purchase.
BNPL products, say the authors, “might pose risks
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com