A relatively new breed of small loans created by fintechs and offered by retailers is expanding the credit market, especially among young consumers, according to a study released Thursday.
TransUnion, the credit reporting agency based in Chicago, analyzed lending patterns of millions of people who applied for Buy-Now-Pay-Later loans — or Point-of-Sale (PoS) loans — and compared them to others seeking credit who did not apply for PoS loans.
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