Online apps such as PayPal Credit, Afterpay, Affirm, Klarna, and FuturePay are now offering Buy Now Pay Later (BNPL) opportunities to consumers who wish to purchase items online, on credit, from popular online stores such as Amazon, Walmart, Target, etc. At checkout, consumers may select BNPL which approves eligible consumers to buy the items on credit and repay in installments (weekly, bi-weekly, or monthly) until the balance is repaid in full at interest-free or sometimes at a low interest rate. There are some risks and benefits however involved as explained by https://www.cnbc.com/2021/10/31/the-risks-in-buy-now-pay-later-holiday-purchases-credit-experts.html(Links to an external site.).

1. However, could BNPL find its way into Global Financial Markets in which retail investors can purchase financial assets (stocks, bonds, treasuries, etc.) either directly from issuers or through a broker with financing provided by the same/similar online apps? Thus, no longer a need to borrower money from you securities broker.
2. This approach would be quite different from margin investing as explained by https://www.wsj.com/articles/what-is-margin-investing-11610566011(Links to an external site.). In the latter, the creditor holds the assets as collateral. However, this would not be the case in the former. Also, there are regulations governing the latter but not the former. The latter is always at an interest rate while the former is often interest free. What risks/challenges (from any stakeholder perspective) do you foresee if BNPL for financial assets is adopted in Global Financial Markets?
3. What likely impact do you foresee Global Financial Markets would experience if BNPL is adopted for financial assets?