word
Buy Now Pay Later
BY NOW PAY LAY-ter
/baɪ naʊ peɪ ˈleɪ.tər/Listen
Hear it in a clear American voice. Slow it down to catch each syllable.
Syllable breakdown
Buynowpaylater
Dictionary meaning
A short-term financing product that allows consumers to purchase goods immediately and pay for them in installments over time, typically interest-free; offered at the point of sale by fintechs like Klarna, Afterpay, and Affirm.
Examples
- She used the buy-now-pay-later option to split her $300 purchase into four interest-free payments.
- Regulators are increasingly scrutinizing buy-now-pay-later products over concerns about consumer debt.
Known as BNPL universally. Called 'deferred payment' in some regulatory texts.
Synonyms: BNPL, point-of-sale lending, installment credit, deferred payment
Pronunciation tips
BNPL is like a modern layby/layaway in reverse — you get the product first, then pay in installments. Key risk: overspending since it feels 'free'.
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