Martin Lewis has warned people against using 'buy now, pay later' schemes, saying they 'scare' him.
Money Saving Expert Martin spoke about the payment schemes on This Morning, alongside Phillip Schofield and Holly Willoughby.
In recent years there have been lots more ways for people to pay for items, with the option to split the cost over a few months, or defer payment to another time.
Martin said that the schemes "massively increase" sales for retailers, which is why they are used.
He said: "Do you know why buy now pay later is free? Because it massively increases sales for retailers.
"The money is made from the retailer not the customer, because buy now, pay later is a huge pump to get people to buy more."
Phil asked: "Why is that a bad thing?"
Martin replied: "What we are doing is we've got a payment system that encourages people to buy things that they can't afford, don't necessarily need and they're doing it through lending, through a loan based system.
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"I'll go back to my initial point, it's a really important question because you have to work it through, don't borrow unless you need to.
"So people are using buy now pay later to get stuff they don't need and it's a form of borrowing, which is why it scares me."
*This Morning continues tomorrow at 10am on ITV