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Glossary: BNPL/Buy Now Pay Later

BNPL (Buy Now Pay Later) is a type of consumer financing that allows customers to purchase goods and services now, and pay for them later.

BNPL stands for Buy Now Pay Later and refers to a type of financing option that lets shoppers make a purchase and pay for it at a later date, usually with no upfront payment or interest charges. Payments tend to be in agreed instalments, often between two and four. BNPL is popular with retailers and e-commerce sites and relieves the financial burden on shoppers, letting them spread the purchase cost over time. 

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