Anna Maria Andriotis

speaker

3,396 appearances 52 recordings 1 series first heard Jul 2017 last heard Dec 2022

Anna Maria Andriotis’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Should You 'Buy Now, Pay Later' When Checking Out? · 16 Sep 2021 podcast

Pay $25 a month or $25 every couple of weeks with this payment provider, with this Buy Now, Pay Later program. matched

And suddenly the consumer thinks, huh, $25, that's totally manageable for me every couple of weeks or every month. matched

Yeah, you know what? matched

I'll do it. matched

So essentially these programs are meant to encourage people to make purchases they otherwise might not make. matched

The other element of Buy Now, Pay Later that resonates with many consumers is that these programs can be easier for people to qualify for than credit cards. matched

In fact, some of the larger Buy Now, Pay Later providers, companies like Affirm and Afterpay and Klarna, matched

say that they are able to approve more people for their programs than people who can get approved for credit cards. matched

Essentially, that there are people who they can approve who would get rejected for credit cards or other kind of traditional financing provided by banks. matched

Also, the payment plans are matched

for that specific purchase that's being made. matched

So you're not looking at a credit card with a $1,000 or $5,000 spending limit that a person gets approved for when they're buying $200 worth of stuff. matched

And it's not something that can be put to use anywhere. matched

It's specific to matched

that merchant and to the item that the person is buying. matched

So for people who can't get approved for credit cards, this is a way in. matched

This is a way in to be able to buy the item they otherwise might not be able to buy. matched

And in many cases, it does become a way for these individuals to build credit to be able to eventually get approved for credit cards. matched

So there's a variety of ways in which these programs work, but they generally are either a pure loan that the person has to repay on a monthly basis or a payment plan that's attached to an existing debit or credit card. matched

So they'll have to apply for these payment plans when they are at checkout and are deciding that they want to pursue this type of payment plan. matched

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