A growing number of Americans are using 'buy now, pay later' services to purchase basic goods such as groceries, raising concerns about consumers taking on more debt.Installment-pay services such as Klarna and Afterpay offer interest-free short-term loans to cover purchases, but the fines for late payments can be steep, and critics fear their ease of use could lure shoppers into dangerous debt. In 2021, $45.9 billion in pay-later transactions were made online, a sharp increase from $15.3 billion the year before, according to a GlobalData analysis reported by the .
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