On Monday, the Ministry of Finances launched a public awareness campaign to alert young people about the risks associated with "Buy Now, Pay Later" (BNPL) payment methods.
These services allow consumers to delay payment at the time of purchase – but failure to repay on time can quickly lead to high fees and spiralling debt, the authority warns. Almost one in four people under 24 has already used such a service at least once.
BNPL platforms enable users to acquire goods immediately and pay for them later, often interest-free. Popular providers include Afterpay, Klarna, Alma, Scalapay, and PayPal, although some retailers offer the option directly through their systems.
According to the Ministry Finances, young people are especially drawn to these services, as the option to pay in instalments makes larger purchases appear more manageable. "But that’s precisely where the danger lies," the agency cautions. "These services encourage impulsive spending and create the illusion of financial control, when in reality you may be spending money you don’t have, or hadn’t intended to spend."
When multiple repayment plans begin to accumulate, maintaining control becomes increasingly complex. Missed payments can result in extra charges and, in some cases, debt collection procedures. "You can find yourself trapped in a cycle of debt more quickly than you might expect," the administration warns.
A call for better awareness
A Belgian Association for Consumer Research and Expertise (AB-REOC) study found that nearly one in five people (17%) had been contacted by a debt collection agency over missed BNPL repayments, most of whom were young adults or impulsive consumers.
"It is unacceptable for BNPL providers to push our young people into debt," said Rob Beenders, Minister for consumer protection. "Many parents aren’t even aware these apps exist or that their children are using them. Raising awareness can already make a significant difference."
