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An increasing number of Singaporeans are flocking towards buy-now-pay-later services as services that allow users to pay in installments have bolstered consumers’ purchasing power amid a pandemic-driven shift to online shopping.
The report notes that the 30% of Singaporeans aged between 25 and 34 were “most likely” to have used a BNPL service. While half of the users spend about S$100 (US$74.25) or less, consumers with moderate-to-high income shell out over S$501 (US$372) while using BNPL services.
Source: Tech In Asia
