Which? responds to the news the government will introduce new rules for the Buy Now Pay Later industry

Lisa Webb, Which? Consumer Law Expert, said:

"Buy Now Pay Later (BNPL) options appear at many online checkouts, but our research shows that many users do not realise they are taking on debt or consider the prospect of missing payments.

“It's good to see the government taking action to regulate BNPL firms and introducing affordability checks. The government also needs to ensure this includes greater marketing transparency and information about the risks of missed payments and credit checks.

“While it’s right that the government is modernising the Consumer Credit Act, the current legislation contains some important consumer protections and it’s important these are maintained.”

-ENDS-