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So-called buy now, pay later services have blossomed across retail websites during the coronavirus pandemic as people have turned more to shopping online.
Yet the ease with which many shoppers can make purchases is worrying some regulators around the world, who fear consumers may be spending more than they can afford, Reuters reports.
Nearly 40 per cent of US consumers who used “buy now, pay later” have missed more than one payment, and 72pc of those saw their credit score decline, according to a study by Credit Karma, which offers customers' credit score checking for free.
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