Point of Sale Lending Growing for Everyday Purchases
Millennials have no love of credit cards and they are demonstrating this in their embrace of alternative payment methods. Rather than buying jeans and t-shirts on a credit card they are using a new breed of lenders to take out an installment loan. Companies such as Affirm, Afterpay, Square and Klarna all offer consumers the ability to pay for their purchases over time whether they are shopping online or in a physical store. Source.