DEBT TRAP: 4,500 Walmart self-checkout kiosks offer “buy now, pay later” loans for basic items
01/03/2024 // Zoey Sky // Views

"Buy now, pay later" (BNPL) loans are more popular during Black Friday and Cyber Monday. With shoppers frequenting stores during the holidays, shoppers at Walmart were offered a new BNPL payment at the checkout line.

The growing popularity of BNPL may seem like good news for shoppers on a tight budget, but in reality, it is a looming problem for consumers with credit card debt and little to no savings.

In December, Affirm Holdings announced that its BNPL service has been expanded to self-checkout kiosks at 4,500 Walmart stores across the United States.

Customers who use the service can purchase apparel, electronics, toys and other items. However, only shoppers who purchased at least $144 worth of products at Walmart – excluding groceries – can divide payments over three to 24 months through Affirm, explained a spokesperson. Financing is limited to $4,000.

Affirm Senior Vice President of Revenue Pat Suh said recent company research showed that 54 percent of Americans are looking for retailers to offer BNPL options at checkout. Data also revealed that at least 76 percent of customers "would either delay or not make a purchase without Affirm."

Aside from being available in Walmart stores nationwide, on the Walmart website, and in the Walmart app, U.S. consumers can also pay over time with Affirm at Walmart Vision and Auto Centers.

Upon checking out, customers are shown the total cost of their purchase and won't have to pay more than they agree to upfront. Affirm never charges any late or hidden fees. (Related: U.S. food banks grapple with strained donations as people battle FOOD INFLATION.)

Suh added that expanding the partnership with Walmart and bringing Affirm's transparent monthly pay-over-time options to Walmart self-checkout kiosks in the U.S. will allegedly help "more consumers increase their purchasing power during the holiday shopping season and beyond."

Government agencies warn customers against using BNPL loans

Several government agencies and the Bank for International Settlements – a Switzerland-based international bank jointly owned by the central banks of 63 nations and territories – have warned consumers against opting to use BNPL to pay for groceries.

The Office of the Comptroller of the Currency (OCC), the powerful federal banking regulator, has cautioned against increased usage of BNPL. The OCC warned that the overuse and poor understanding of the BNPL payment structure could result in "disastrous outcomes for consumers if payments are missed."

The OCC issued guidance to national banks and federal savings associations to help mitigate the risks associated with "buy now, pay later" lending. The guidance focused on the risk management of BNPL loans, which can be paid for in four or fewer installments and carry no finance charges.

The guidance explained that banks should maintain underwriting, repayment terms, pricing and safeguards that will help prevent negative customer outcomes and should ensure that marketing materials and disclosures are clear and conspicuous.

According to a report published by the Bank for International Settlements, BNPL is mainly being used by young adults, especially those with low education and maxed-out credit cards. It's best to think twice when retailers allegedly try to help already struggling shoppers by offering payment plans that can make them go broke.

Visit for more stories about the gradual collapse of the U.S. economy.

Watch the video below to learn how buy now, pay later splurges can increase holiday debt hangover risk.

This video is from the MEGA (Make Earth Great Again) channel on

More related stories:

Grocery items in first “Home Alone” now 264% HIGHER after taxes despite Biden’s “strong economy” claims.

Walmart store closures leave local communities grappling with economic and social consequences.

Walmart stock plummets amid corporate warning that consumer spending is slipping.

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