Episode 35: BNPL

In this kickoff to the 2025–26 season, Eric and Elijah unpack the boom—and backlash—around Buy Now, Pay Later (BNPL). From viral memes about financing hot dogs to real concerns about “invisible debt,” they trace how BNPL morphed from an inclusion play for thin-file borrowers into a system that can nudge impulsive spending. The conversation hits consumer psychology hard: why splitting payments feels like “free money,” and why short-lived purchases create unique collection headaches.00:00 – Intro & Definition of BNPL 01:00 – BNPL in Everyday Life 03:00 – Psychology of “Free Money” 05:00 – Financial Inclusion vs. Predatory Lending 07:00 – Consequences and Collections 09:00 – FICO Scores and Invisible Debt 11:30 – Credit Limits and Hard Inquiries 13:30 – IPO Failures and Market Uncertainty 15:30 – Regulation and Global Impact 17:30 – Banks Entering the BNPL Space 19:30 – The Shake-Out Period 21:30 – Conclusion & Sign-Off