Is Buy Now Pay Later a trap?

Is Buy Now Pay Later a trap?

BNPL has grown hugely over the past couple of years, so much so that even Apple is entering the market.

But I am wondering whether it is what people need in these times of soaring prices and financial struggles.

More and more reports show that BNPL is growing in popularity among the financially vulnerable. With Apple joining the bandwagon, it'll be even easier for iPhone users to purchase stuff they can't afford.

It's still not clear what the Apple's business model will be, which makes me think there won't be any.

BNPL will be integrated into Apple Pay and doesn't have to be profitable. Why?

✅ BNPL is so popular that if available by default on the iPhone, it will push the smartphone sales even further.

✅ Apple is building its own fintech unit and can not let this go.

I can't help but thinking this can be very dangerous. Anyone agrees?