ALBANY, N.Y. — The New York State Department of State's Division of Consumer Protection is warning shoppers about Buy Now, Pay Later (BNPL) financing.

BNPL is a financing option which has grown in popularity in recent years. It allows shoppers to make purchases with deferred payments that are usually broken up into monthly installments.

"Don’t get caught in the revolving door of debt this holiday season. Buy Now, Pay Later is becoming more and more common online, and consumers are using a variety of payment methods that can make buying easy— but before they know it, the debt is growing and hurting their financial health," said Secretary of State Walter T. Mosley. "The Division of Consumer Protection has important information and tips for those using this payment method to avoid falling i

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