Buy Now Pay Later (BNPL) is a payment option that allows consumers to purchase items immediately and pay for them over time, usually in installments. This service is often offered by retailers and financial companies, making it easier for shoppers to afford products without paying the full price upfront. Typically, BNPL plans require little to no interest if payments are made on time. However, late payments may incur fees or interest charges. This option is popular among younger consumers who prefer flexible payment methods, but it's important to manage spending to avoid accumulating debt.