Larger rates of interest had been supposed to place an finish to the quick development of purchase now, pay later lenders. However proper now they could really be serving to out.
Not like banks that fund their loans by way of their deposits, BNPL gamers that supply small loans and installments to buyers have to get that cash from the market, as do different nonbank financial-technology corporations. So they’re, in concept, extra uncovered to the price of rising rates of interest.
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