Buy Now, Pay Later (BNPL) is a type of short-term financing that allows consumers to make purchases and pay for them over time, often with interest-free installments. Think of it like a point-of-sale loan. Instead of paying the full price upfront, shoppers can split their purchase into smaller payments, typically spread over a few weeks or months. BNPL services are increasingly popular at online and brick-and-mortar retailers, offering a convenient way to manage expenses and make purchases more affordable. However, it's important to use BNPL responsibly, as missed payments can lead to fees and negatively impact your credit score.