Economics

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DoorDash will let users buy now, pay later for fast food, a possible worrying sign for the economy (www.cnn.com)

submitted 4 days ago* (last edited 4 days ago) by [email protected] to c/[email protected]

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Summary

DoorDash is partnering with Buy Now, Pay Later service Klarna to let customers divide fast food purchases into interest-free installments or defer payments to align with paycheck schedules.

This expands BNPL services beyond their typical use for large purchases like furniture.

The partnership comes amid record BNPL usage ($18 billion during last holiday season) and as Americans face increasing debt levels, with serious delinquencies on auto loans and credit cards at 14-year highs.

Klarna plans to list on the NYSE soon, capitalizing on the BNPL market projected to exceed $160 billion in seven years.

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[–] [email protected] 3 points 4 days ago

This isn’t exactly a new trend. Instacart has been offering this for groceries, which is just as bad.