Buy now Pay Later usage hit an all time high over Christmas, with 34% of UK shoppers using the service to spread the cost of purchases, according to a report by credit agency Equifax.
The research reveals that one in three Brits have now used BNPL services, up from 26% in November 2021, suggesting that 4.1 million people chose to use the payment method for the first time in 2022.
However, Equifax found that this year-on-year spike does not appear to be a consequence of the cost-of-living crisis.
