In 2022, we are past the COVID pandemic in the most significant ways, however there are some ways in which the pandemic changed our habits on a more permanent scale. One of these changes is the ways in which we make purchases.
Perhaps it was the toll that COVID took on our economy and the joblessness that many Americans experienced. Perhaps it had to do with the uncertainty of the economic future and our ability to thrive within it, but regardless of the trigger, Americans are now more inclined to use BNPL (buy now, pay later) as a form of payment on high priced items like dental and veterinary care.
The majority of us have medical insurance, however dental insurance is not as common, and only 18% of pet owners have pet insurance for veterinary care. The result is that we are concerned about the potential bills in the future and we aren’t sure how we will be able to afford the care that we or our pets may desperately need.
This is where BNPL is a great alternative option. It isn’t based on credit, so there are no hidden fees and nothing beyond a flat rate. Consumers are able to choose the payment plan that best fits their budget, and most of all, they’re able to access the care that they need for themselves and their pets, without worrying about how they’ll be able to afford it.