Travel Industry Sees Dramatic Expansion in Buy-Now, Pay-Later Plans

According to the Wall Street Journal, consumer use of Buy Now, Pay Later (BNPL) plans has grown eightfold since September 2020 for at least one BNPL company that works with American Airlines, Delta Vacations and Expedia. Other BNPL companies have started working with United, Royal Caribbean and SeaWorld offering consumers easy access to loans for their vacation expenses. The meteoric rise of BNPL and the ease of access to debt has prompted the Consumer Financial Protection Bureau to launch an inquiry into these plans, and to consider protections for consumers.

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