4-in-6 Payment Products — Buy Now, Pay Later: Insights from New Survey Data

Abstract: Since 2019, buy now, pay later (BNPL) lending products have experienced rapid growth in transaction volume and garnered significant attention from consumers, researchers, and regulators.2 In particular, BNPL products that use an interest-free, 4-payments-in-6 weeks (4-in-6) structure have been examined closely because of concerns that their unique characteristics could pose risk to vulnerable consumers as well as to lenders across credit markets.

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Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Consumer Finance Institute Research Briefs and Special Reports

Publication Date: 2024-02-22