September 4, 2025· 36 min

What's Behind the Boom in Buy Now Pay Later

Julie Margetta Morgan

Orality

Model

63%

Mixed oral/literate (blogs, casual essays)

Speaker Breakdown

HostJoe Weisenthal(1,417 words)

M:29%

HostTracy Alloway(1,719 words)

M:29%

GuestJulie Margetta Morgan(3,605 words)

M:28%

Oral Indicators

Agonistic25%

literally, completely, certainly

Engagement70%

you, our, your

Memory Aids100%

listen, now, like

Repetition100%

like (152x), know (69x), it's (68x)

Parallelism78%

And I'm Joe Wiesenthal...., But a few years ago, I noticed..., And usually, it's with a compa...

Sound Patterns75%

65 question(s), alliteration: "markets move", alliteration: "barclays brief"

Formulaic Phrases7%

at the end of the day, you know what, i mean

Literate Indicators

Hedging10%

may, probably, rather

Passive Voice6%

are compelled, be used, are reported

Abstract Nouns17%

investment, recommendation, community

Subordination6%

because, though, until

Sentence Length35%

Avg: 13.7 words/sentence

Word Complexity48%

investment, analyze, anticipate

Academic Markers0%

Impersonal Style30%

603 personal pronouns found

Descriptive Style91%

literally, completely, apply

Description

Buy Now Pay Later is everywhere nowadays. Companies like Affirm, Afterpay, and Klarna have brought installment payments into everyday life, while big banks and tech firms also now racing into the space. With the market growing so rapidly, there are obvious concerns over whether BNPL is adding a new layer of 'hidden leverage' to the economy, giving online shoppers an alternative to more traditional financing like credit cards and bank loans. Data about BNPL usage is notoriously limited, and BNPL firms have so far resisted sharing information. In this episode, we speak with Julie Margetta Morgan, formerly at the CFPB and now president of The Century Foundation, about what's driving the BNPL market, how BNPL companies make money, and the macroeconomic impacts of the BNPL boom. Read more: Klarna, Backers Seek $1.27 Billion in IPO After Tariff Pause Dollar Tree Boosts Outlook as Consumers Keep Hunting for Deals Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.

← Dan Wang on China's Breakneck Economic G...Lots More on the Big Problem With the Mo... →