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China's buy now pay later market is growing — but challenges remain, experts say
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cnbc.comChina's buy now pay later market is set to grow — but the industry is still at a nascent stage, and challenges lie ahead, experts told CNBC.
There's been a surge of interest in BNPL services in China over the last decade, said Kapil Tuli, marketing professor at the Singapore Management University's (SMU) Lee Kong Chian School of Business.
Buy now pay later services are a form of payment where consumers make purchases and pay them off over a period of time in several instalments, often interest-free. While BNPL is typically interest-free, some providers charge high late payment fees.
A few factors are fueling the «perfect storm» for the growing trend, according to Tuli. They include unprecedented low interest rates, the rise of online
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