What the new ‘buy now, pay later’ rule means for small businesses offering the service
By MAE ANDERSON
AP Business Writer
NEW YORK (AP) — “Buy now, pay later” services are a popular way that shoppers pay for goods. Because shoppers like the service, offering it can be a plus for a small business. But since the payment plan is offered by third-party companies — such as Affirm and Klarna — there can be risks involved too. If something goes wrong, consumers could blame the small business — even if they have nothing to do with the payment plan. But the Consumer Financial Protection Bureau issued a new rule that may ease small business owners’ minds.
