Young people have fuelled its rise but the use of buy now, pay later is exploding among older people, with uptake among 55- to 64-year-olds more than doubling in a year, UK data shows. Often the cost is split into three monthly instalments, and if someone keeps to their repayment plan, they will not usually pay interest or charges. Other surveys have noted an increase in demand among older people, with some of this attributed to those on tight budgets using BNPL to spread out payments for essentials. The report also found that, as digital options became more widespread, cash use “continued its long-term decline” in 2024. Meanwhile, 30% of adults – 16.9 million people – used cash once a month or less.