Shoppers who used “buy now pay later” to help finance gifts this holiday season may soon encounter an unwelcome surprise: Returns can be more challenging than when buying from the store with cash or a credit card.
Returns and disputes are a common concern among buy now, pay later users, according to a September 2022 report from the Consumer Financial Protection Bureau, and dispute resolution is the top buy now pay later-related complaint in the CFPB’s Consumer Complaint Database.
But making a seamless return with buy now, pay later isn’t impossible if you know the process ahead of time. Whether it’s a gift you bought or received, you’ll want to deal with the retailer when making the return and follow up with the buy now, pay later provider, if necessary….