If you have done any online shopping in Singapore, you might have noticed that some e-commerce merchants are offering you a new way to check out. Apart from the traditional credit cards/debit cards and digital payment solutions that require you to pay the full amount upfront or the credit cards that offer instalment plans, we now have the Buy Now Pay Later (BNPL) payment option. With BNPL, you can delay your payments and split them up into weekly or monthly instalments. Undoubtedly, this payment method is convenient for those on a tight budget who are unable to pay the full amount upfront. This might also explain why BNPL services are gaining popularity in Singapore. According to a nationally representative survey of 1,008 Singaporeans aged 16 or older done by Milieu (via Finder) in October 2020; about four in 10 Singaporeans or nearly 1.1 million people have used a BNPL service. But the worrying this is this...