How will Buy Now Pay Later changes affect you?
New regulations in the UK now require Buy Now Pay Later (BNPL) providers to obtain financial regulator approval and perform stricter affordability checks. While proponents argue this increases consumer protection, critics fear it may push vulnerable individuals toward unregulated loan sharks.
Why it matters
This shift marks a significant change in consumer credit regulation, impacting how millions of shoppers access interest-free installment plans.
Share Save Add as preferred on Google Kevin Peachey Cost of living correspondent Getty Images Shoppers using Buy Now Pay Later (BNPL) services have stronger rights but some will be refused loans, as new rules come into effect.
The article presents both the regulatory perspective and the concerns of industry stakeholders and consumer advocates.
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