Sun, 18 May 2025

Sun, 18 May 2025 New buy now, pay later rules aim to protect shoppers

Lenders will have to carry out affordability checks and shoppers will have faster access to refunds under the plans.

* Lenders will have to carry out affordability checks before allowing people to take on debt
* Shoppers will have faster access to refunds if something goes wrong with their purchase
* BNPL firms will have to follow consistent standards so shoppers know what they're signing up for and can make informed decisions
* Upfront checks on affordability will be required, ensuring that people only borrow money they can afford to repay
* The right to complain to the Financial Ombudsman will also be available if things go wrong
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