Buy Now Pay Later Offers Coming to Gas Market

You can make periodic payments on furniture, clothing, jewelry, phones, and more that's available today in the market. And one more item coming to the mix? Gas. With the high prices today more might be looking to do the same with paying over time for their gas purchase. You could already do this with a credit card mind you, but now there are more product offerings on this front in the market.

With the price of gas going up around the U.S. it has already caused some to reconsider which trips they might take, looking to adjust driving habits to those prices. It is especially hitting the transportation and delivery industry the hardest because they rely so heavily on fuel.

Demand for these installment payment services has skyrocketed over the last decade, becoming an increasingly popular payment method for businesses around the world.

Now more gas stations might also be looking to provide this to their customers too through payment partnerships.

Some might say that if you need to pay in installments for gas then maybe you cannot afford the item. Meanwhile people need to get to work and might be struggling with the cost of filling up, this is one more option available to those who see value in it.

Is it just going to push more into a cycle of payments and debt though?

There will be some who will probably jump at the chance to use this payment method for their next gas purchase.

Pics:
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not financial advice
Sources:

https://www.washingtonpost.com/business/2022/03/23/klarna-gas-up-pay-later/ https://www.fool.com/the-ascent/personal-finance/articles/buy-gas-now-pay-later-how-to-buy-gas-on-layaway/ https://www.protocol.com/bulletins/fill-up-now-pay-later