MANAGEMENT

Detailed explanation-1: -Buy Now, Pay Later (BNPL) is a type of short-term financing that allows consumers to make purchases and pay for them over time with no interest. Using BNPL financing can be convenient for consumers, but there are some potential downsides to consider.

Detailed explanation-2: -Easier payments, greater flexibility and saving on interest were among the top three reasons consumers chose to use a BNPL to finance their purchase in 2021.

Detailed explanation-3: -Using credit means you borrow money to buy something. You borrow money (with your credit card or loan). You buy the thing you want. You pay back that loan later – with interest.

Detailed explanation-4: -A credit agreement is a legally-binding contract documenting the terms of a loan agreement; it is made between a person or party borrowing money and a lender. A credit agreement is part of the process for securing many different types of loans, including mortgages, credit cards, auto loans, and others.