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“Purchase now, pay later” firms promised a credit score revolution that may change the best way individuals pay for issues. Rising delinquencies and a slowing economic system are clouding that outlook.
Cost plans that permit customers to separate up the price of issues comparable to clothes, make-up and residential home equipment had been all the fashion final 12 months. The businesses behind the plans noticed their valuations surge. Scores of outlets rushed so as to add them at checkout. Block Inc . (previously Sq. Inc.) in August introduced a roughly $29 billion all-stock deal for Afterpay, one of many largest firms within the enterprise.
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