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BNPL is undeniably revolutionizing the way consumers and retailers approach payments, driven by increasing demand for convenient, interest-free, and accessible financing options. It has unlocked new opportunities for underbanked populations and helped facilitate smoother cash flows for consumers making large or urgent purchases.
However, like all credit products, BNPL requires responsible use. Consumers must be vigilant about their ability to repay and avoid the trap of accumulating debt that can spiral out of control due to late fees or missed payments. As regulatory frameworks evolve to better protect users, BNPL's role in mainstream payments is likely to expand, shaping the future of digital financial transactions worldwide.