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It says in the article that the loans aren't high interest. They're low to no interest.
They're no interest if you make the payments, if you miss one and keep a balance they can be 30%, which is how the services make money
I'm sorry but you're wrong. The specific BNPL loans being discussed in the article really are 0% interest and don't have late fees. The entire point of the article is that this is so appealing to people that they overextend their finances to get things they don't really need, and then get stuck making payments for years.
They work like credit cards. If you pay off the debt then there's no problem, you are essentially just pulling money from the future, when you will have it, into the past, where you don't have it, which can be useful if you 100% know you'll be able to cover your debt by the end of the month.
But if you are going to do that you might as well just have a credit card. Banks love it when you do stuff like that, their all time favorite customers are people who regularly pay off their debts and never require any communication from them. Banks don't like it if they have too many people indented to them, because a certain percentage won't pay off their debt. Banks have other less risky means of making money, mostly through safe mortgages and bank fees.
But these loan companies only make money by people having debt. So the risk reward calculation is different for them, so they actively encourage people to get into debt in a way that banks tend not to.