Connect with us

Executive Voice

Financial Planner Matthew Murawski Discusses Buy Now Pay Later, The Rising Credit Alternative For Consumers

A rising trend in the financial industry is the emergence of Buy Now, Pay Later (BNPL) platforms. These platforms enable customers, even those with poor or no credit to purchase goods and services on an installment basis. Financial planner Matthew Murawski of Goodstein Wealth Management, LLC has seen interest in these platforms rise and thinks it is time to start talking about what buy now, pay later means for individuals and the credit industry.  

Buy now, pay later allows consumers to make purchases by breaking up payments over time and taking goods home with no money down. Platforms have existed in the U.S. for several years; however, the last two years have driven interest in this kind of credit alternative. Often with no credit check and zero-interest payments, it is becoming a very appealing option for many consumers. Enabling them access to goods and services that they otherwise would not be able to buy, these platforms are attracting a growing following in younger demographics like Generation X, Generation Z, Millennials, and older Americans who simply do not want to use credit or savings for purchases. Adobe Analysis reveals BNPL platforms grew 215% year-over-year in just the first few months of 2021.  

Consumers first find a platform they want to use to make their purchase, Afterpay (recently purchased by Square), Affirm, Pay in 4 from PayPal, Quadpay, Uplift, Stripe, Per Pay, Klarna, to name a few. The amount that can be borrowed varies, it can start as low as $10, and go up to over $10,000 depending on the specific platform. These platforms offer payment plans anywhere from weekly to 3 to 36 months (and more in some cases), each has its own set of payment requirements, etc. Some charge interest, some do not, most will not run a hard credit check or ask for a credit score.  

Murawski sees potential for both benefit and risk for consumers with BNPL setups. Benefits include the ability to turn browsers into buyers, giving consumers access to funds makes it easy to say yes. It also gives people who live on non-traditional income, those paid quarterly, influencers, creators, those in the digital economy, self-employed folks, etc., the ability to make purchases when they do not have cash on hand. From a consumer standpoint, buy now, pay later is a beneficial alternative to credit that can give them purchasing power. BNPL platforms are not legally considered credit; they do not fall under the same regulations, giving more flexibility than lines of credit.  

BNPL comes with a risk as well and needs to eventually be paid back. While platforms do have limits, just like credit there is the possibility of taking out too many installment agreements, and not being able to make the payments when they are due. If not taken seriously, this could be a source of consumer debt and can add up quickly over time, especially if one is using multiple platforms. There can be a lot hidden in the fine print, high fees, penalties for delinquent payments, etc. It is best to make an educated decision if choosing to try out buy now, pay later.  

Murawski is a financial planner at Goodstein Wealth Management and has been in the financial services industry for 9 years and is based in Encino California. He advises clients by providing individualized recommendations and strategies.

Please note the topics discussed here in no way constitute financial advice or buyer recommendation. This is simply a discussion of an emergent new platform for consumers.  

Advisory services are offered by Goodstein Wealth Management, LLC a Registered Investment Advisor in the State of California.




Sahil is a serial entrepreneur and branding specialist. He also serves as a real estate investor and business consultant. He presently serves as the owner of The Brand Castle - Specialist in Search Engine Optimization (SEO), Web Design & Development and more.

Advertisement Become A Crypto Expert

Join Disrupt Magazine

Become A Disrupt Contributor

Most Disruptive

Entrepreneurship7 months ago

Navy Veteran Davis Chris Takes the Music Industry by storm

In life, you need to break down anything that might be holding you back and change course if need be...

Entrepreneurship8 months ago

5 Disruptive Leaders Paving the Way in 2021

Where there is uncertainty, lies a whirlwind of opportunity. 2020 was the year that had entrepreneurs learn a great deal...

Politics1 year ago

Brock Pierce Wants To Disrupt The Two Party System And Be Your Next President

We don’t usually cover politics much here at Disrupt, but when Crypto billionaire and friend of the show, Brock Pierce...

Business1 year ago

John Mcafee – Predictions For The Future

John McAfee is a world-famous tech CEO, computer scientist, civil disobedience activist, privacy advocate, and pioneer of the commercial anti-virus...

Finance1 year ago

Gaby Wall Street – Teaching Latinas to Thrive During The Crisis

It’s no secret we are facing one of the most challenging financial times of the last few decades as we...

Entrepreneurship1 year ago

Tony Delgado – The #1 Entrepreneurship Movement In Puerto Rico

Puerto Rican online market is in constant progress. With many entrepreneurs who are coming here to start a business, it...

Entrepreneurship2 years ago

Elena Cardone – The 10X Ladies Conference Is Declaring 2020 The Decade For Women

The next ten years are meant for women to continue growing their potential and succeeding in multiple areas, including business....

Marketing2 years ago

How Josh Elizetxe Built Snow Into a $40 Million Dollar Business

There is nothing quite like an entrepreneur’s determination when starting a business. That’s my original quote by the way (pun...

Entrepreneurship2 years ago

How Jason Capital Became A Self Made Millionaire By 24

Have you ever wanted to earn the respect of everyone who ever looked down on you at some point in...

Entrepreneurship2 years ago

Sam Bakhtiar On His Way To A Quarter Billion

Dr. Saman Bakhtiar, who prefers being referred as Sam, lives in an 8200 square foot $5.2 million house, Sam is...


Copyright © 2020 Disrupt ™ Magazine - Disrupt is a Minority Owned Privately Held Company

Disrupt ™ is the voice of Latino entrepreneurs around the world. We are part of a global movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities around the world. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. This Podcast was designed to give them a taste of that.