Will “buy now, pay later” be a smart scheme of financial management or a blind spot of the lender?

“Buy now, pay later” - a payment scheme that allows consumers to purchase goods over time with interest-free instalments, has become increasingly popular. With such a growing trend, the sector is expected to reach USD$3 billion in 2028. But the question is : is BNPL a good scheme for money management? Prime Time’s Timothy Go and Bharati Jagdish speak with Tan Siew Lee, Head of Wealth Management, OCBC to find out more.  Highlights of the conversation: 01:28 : Why BNPL is a fast growing market now  03:28 : Concerns about BNPL such as technical issues with payments and impulsive purchases  04:41 : How banks can protect themselves against default payments  06:19 : Industry-wide of conduct to safeguard consumers        See omnystudio.com/listener for privacy information.