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The New Daily
The New Daily
Matthew Elmas

MYSTERIOUS: Debt trap risks for those with multiple buy now pay later accounts | Mind Blowing Facts

Andrew Grant BNPL Brittany
A new study has found about 40 per cent of BNPL users have multiple accounts. Photo: TND

Buy Now Pay Later (BNPL) companies are lending money to highly vulnerable Australians without knowing how many accounts they have, a new study has found.

A University of Sydney study published this week using transaction data from 819,415 BNPL customers found about 40 per cent of users have more than one account with providers like Afterpay, Zip and Klarna.

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