Pay-later lending for household needs reaches $160 billion, report says

Buy-now-pay-later lenders including Flex, Zip and Affirm are pitching loans for basic household needs, according to a New York Times report summarized by Techmeme. Americans spent $160 billion through pay-later loans in 2025, twice the amount reported for 2023. The report says the expansion raises questions about whether rising use reflects consumer preference or financial distress.