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Speaking of the Economy

Speaking of the Economy

What Happens When Consumers Buy Now and Pay Later?

Mar 4, 2026 · 10m

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On this episode

About this episode

Zhu Wang discusses the emergence of "buy now, pay later" installment loans and shares his research on the potential impacts of this payment option on the credit risks of individuals and the stability of financial markets. Wang is vice president for research in financial and payment systems at the Federal Reserve Bank of Richmond. Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_03_04_buy_now_pay_later