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What’s Buy Now Pay Later (BNPL)? Why is it in the news?

On June 20th, RBI issued a direction disallowing non-banking Prepaid Payment Instruments (PPI) from loading credit lines on the PPI. This bans PPI wallets from being loaded with credit lines/credit cards.  What is BNPL?  BNPL is short-term financing for consumers who can buy products and get short-term credit and pay later for the credit taken. […]