Square’s new deal proves Dimon right to question role of Wall Street


Afterpay’s buy now, pay later platform allows users to stagger the cost of purchases up to $1,500.


BNPL — it’s the latest series of letters taking Wall Street by storm. But what does it mean? And why are consumers raving over it?

Like layaway plans of old that are now called point-of-sale loans, BNPL (or “buy now, pay later”) lets shoppers break purchases into equal installment payments without interest or fees. It even allows them to use a debit card, which can make expensive items seem affordable. The lenders typically partner with retailers like Macy’sWalmart and Peloton to offer their services.

But BNPL — which in the U.S. grew 215% year over year in the first two…


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