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MAS warns against buy now, pay later services as more Gen Z Singaporeans turn to borrowings

Bloomberg
Bloomberg6/15/2021 7:50 AM GMT+08  • 6 min read
MAS warns against buy now, pay later services as more Gen Z Singaporeans turn to borrowings
MAS has launched a media campaign warning that buy now, pay later methods may lead to debt and consumer credit risk.
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Would that be by cash, card or a handful of equal payments over a few months?

Starrie Lee, 23, opted for the latter when she bought a computer monitor online in May. In just a few clicks, the analyst for a technology consultancy split her purchase over three installments using a Singapore-based “Buy Now, Pay Later,” or BNPL, service known as Rely. She is scheduled to pay off her roughly $500 bill in July.


See: Buy now, regulate later? Are 'buy now, pay later' services good for cash-strapped consumers?

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