Why Buy Now, Pay Later shoppers face higher prices

Household appliances. Buy Now, Pay Later programmes offer consumers the option of financing purchases by paying for items in instalments over time.

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Shoppers on the popular Buy Now, Pay Later (BNPL) financing programmes face higher product prices after the Treasury introduced changes requiring that all firms involved in any form of lending charge excise duty on their services.

BNPL programmes are a financing option that allows consumers to make purchases and pay for them over time, typically in a series of instalments.

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Note: The results are not exact but very close to the actual.