Shoppers who use 'buy now, pay later' to help finance gifts this holiday season may soon encounter an unwelcome surprise: Returns can be more challenging than when buying from the store with cash or a credit card.
Because BNPL loans have quick turnarounds — payments are due every two weeks on standard pay-in-four loans — you can get stuck making payments on a gift that has been returned.
"Returns can be a challenge with buy now, pay later because there are specific dispute provisions that apply to credit cards that may not exist in the BNPL space depending on the lender," said Laura Udis, senior program manager of small dollar, marketplace and installment lending at the CFPB. "If goods are not delivered or if there is something wrong with them, we have a clear process to help shoppers resolve any issue and ensure that no customer is unjustifiably liable to pay for a purchase," Kristina Elkhazin, head of Klarna North America, said in an email.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Some Christmas shoppers spending over half their monthly income on giftsEven with persistent inflation, U.S. holiday shoppers are expected to shell out $300 billion on gifts alone. The most generous, though, are residents in Scottsdale, Ariz..
Leer más »
Pasadena flea market draws thousands of holiday shoppers looking for handmade gifts and food itemsSigns of the holidays abounded as crowds of visitors browsed through items ranging from...
Leer más »
Better Business Bureau reminding shoppers to be cautious of online scammers this holiday seasonAccording to the BBB, the number one scam that we’re going to see this week is online shopping scams
Leer más »
San Francisco FBI office warns holiday shoppers of last-minute scamsAs people do their last-minute holiday shopping, the San Francisco FBI office is urging people who shop online to do so with caution.
Leer más »
'Make a list': Chicago shoppers pack the stores to avoid the severe storm on Thursday'Even though I'm a millennial, in recent years, I have been writing down everything on a list of things I need. And I actually got everything that I needed.'
Leer más »
Costco's Absolute Best Deal, According to ShoppersAccording to shoppers, these are some of the greatest Costco deals of all time, and more than worth a trip to the warehouse.
Leer más »