Weight loss drugs, DoorDash are entering BNPL space. Is 'bite now, pay later' a good idea?
The “buy now, pay later” model is more accessible than ever.
A Chipotle order for the family through DoorDash? That’ll be four installments of $11. Weight-loss medications like Wegovy? You can pay for the $1,000-plus drug through Affirm.
“Buy now, pay later can be translated into pretty much every aspect of consumption,” Mizuho analyst Dan Dolev told Paste BN. “You can buy a car, you can buy a plane, or you can just buy a sandwich.”
But is splitting food delivery into four payments a good idea?
How does buy now, pay later work?
The BNPL model, best known for zero-interest loans repaid in installments, has exploded in recent years.
“BNPL is stepping into the mainstream as a consumer credit product,” said Ed deHaan, a professor at Stanford Graduate School of Business. "I don’t have any reason to think the growth is going to slow down.”
A 2025 report from the Consumer Financial Protection Bureau says roughly 21% of consumers with a credit record were using BNPL from one of six major firms in 2022, with 20% characterized as "heavy users" who took out at least one BNPL loan on average each month. That's up from 17.6% of consumers in 2021, with 18% considered heavy users.
Preyas Desai, a professor at Duke University’s Fuqua School of Business in North Carolina, said BNPL can play a “valuable role” for some consumers, especially those with limited access to credit cards.
“It could be that they don’t like to use credit cards or (haven't) acquired credit cards,” he said. “So they may have some need for addressing their liquidity constraints in the near term, and that could be a legitimate use for BNPL.”
What are the risks of buy now, pay later?
Experts who spoke to Paste BN said that buy now, pay later can be useful for those who use it responsibly. But like any loan, there can be risks.
One, according to Desai, is overspending.
A 2023 study co-authored by deHaan found BNPL users experience "rapid increases" in bank overdraft charges and credit card interest and fees compared to nonusers. Another 2022 working paper from Harvard researchers found BNPL use can lead to higher spending and a higher likelihood of dipping into savings.
“Consumers need to understand this new form of payment and make educated decisions,” Desai said. Users can “stack BNPL on top of each other and get these loans from multiple BNPL providers. So there is some risk that people might be able to get habitualized to use BNPL.”
CFBP found that 63% of buy now, pay later borrowers in 2022 originated multiple loans simultaneously, with 33% taking out loans across multiple firms. The typical loan that year was less than $100 when adjusted for inflation to 2024 dollars.
DeHaan said tools like credit cards and BNPL can make it “very easy” to spend more money than consumers are ready to pay off.
“A lot of times, we’re just not good in advance of doing that mental math on, will I have the cash to pay this in four weeks? And we’re not good at resisting those impulse buys,” he said. “That’s the unique risk, especially when you combine it with a demographic which skews toward being less experienced with credit products. Then those risks are amplified.”
About one-quarter of BNPL users said they've missed a payment within the last month, and another quarter said they've had to pay late fees, according to a 2023 survey of more than 2,000 adults from business intelligence firm Morning Consult, as previously reported by Paste BN.
DeHaan’s advice? Start BNPL usage slowly; stick to the big-name companies with an established record; understand the fine print; and try to limit purchases to one BNPL provider to avoid juggling payment schedules with multiple firms simultaneously.
“Have a budget, even if it’s a simple budget. Write it down and make sure you understand how much you can spend on, say, food, each month,” deHaan said. “Really double-check and make sure that it’s within your budget to make that purchase."
As for relying on BNPL for smaller, discretionary purchases? Experts said it may not be worth it.
“Ideally, you want to be financing things that one, you need, and two, help your overall net worth or income potential go up over time,” said Priya Malani, founder and CEO of financial advisory firm Stash Wealth. “Your chicken tikka masala? Yeah, no. It’s not really going to help you in that way.”
Even Dolev – who has been bullish on the sector – said financing minor purchases, such as a sandwich shop delivery through DoorDash, is “kind of silly.”
“Take a bite now, pay later? That’s a little bit too much,” he said.
Klarna, the BNPL firm that recently announced a partnership with online delivery platform DoorDash, in a blog post made clear that its features will only be made available on purchases of at least $35. A spokesperson told Paste BN the primary intention of the partnership is for consumers to use Klarna's "pay in full" option for meal deliveries and its "Pay in 4" option for higher-ticket deliveries through DoorDash, like electronics or home goods.