'Buy now, pay later' may harm shoppers - study

A new study looking at buy-now pay-later payment models has found most consumers don't understand the agreement they've signed up to. Shoppers can buy goods that cost as little as $5 and pay them off over six to eight weeks. About 3,000 New Zealand retailers now offer this option for online shoppers, but Otago University researcher Lisa McNeil told reporter Emma Hatton it's potentially harmful - particularly for consumers who don't keep a track of what they've spent.