Rejected for a Buy Now, Pay Later Plan? It Might Not Be Your Fault

Some users of buy now, pay later apps might face something new when they try to use the payment method: rejection.

Higher interest rates and recession concerns are challenging the business model behind services such as Affirm, Klarna and Sezzle, which say they are tightening credit standards to focus on making a profit, rather than growth. Some customers say they have been caught off guard by unexpected denials or lower spending limits when they try to make purchases.