Buy now, pay later services to hit record this holiday shopping season

BNPL firms like Klarna, Afterpay, and Affirm are set to take market share away from debit cards and other forms of payment on purchases.

U.S. shoppers are expected to spend a record $18.5 billion using third-party buy now, pay later (BNPL) services for holiday purchases in the last quarter of the year, according to projections by data firm Adobe Analytics released on Wednesday.