If you’ve bought something online recently, you’ve probably seen a payment option to spread out the purchase in installments. This is known as Buy Now, Pay Later and it’s popping up all over Canada with companies like Amazon, Adidas, Samsung and Sleep Country. But why is it all over the place all of a sudden?

Finance reporter and columnist Tim Kiladze looked into it, and he explains where it came from, how it affects credit, and how it encourages people to spend more money.

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