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15 Jun 2022

It is important that retailers read the document and familiarise themselves with industry standards to ensure they are creating a safe, informed space for consumers to shop and obtain credit.

2 Mar 2022

The FCA was concerned there was a potential risk of harm to consumers as a result of the way Clearpay, Klarna, Laybuy and Openpay's T&Css were drafted.

17 Feb 2022

Buy Now, Pay Later purchases are set to appear on credit reports for the first time, meaning lenders will be able to see the borrowing

23 Nov 2021

Improperly regulatedBuy Now Pay Later services aren't just growing in popularity among consumers, they're also proving to be a hit with criminals.

8 Nov 2021

As trendy Buy Now Pay Later (BNPL) services continue to grow in popularity across the UK, a charity has warned that using these non-regulated services can be like "slipping into quicksand"....

3 Feb 2021

Buy now pay later (BNPL) firms such as Klarna and Clearpay are to be regulated by the Financial Conduct Authority after a report warned of the risk of people running into "unseen debt".

21 Jan 2021

The call to regulate BNPL firms like Klarna, Laybuy and Clearpay is now supported by 70 MPs, with many arguing that the FCA review is too lengthy and could leave consumers drowning in debt

17 Dec 2020

Popular Buy Now Pay Later (BNPL) providers have once again made the headlines across multiple news sites for the growing amount of distrust being triggered among consumers.

8 Dec 2020

English journalist and television presenter, Martin Lewis OBE, most well-known for founding MoneySavingExpert.com, has put forward his concerns about the growing popularity of Buy Now Pay Later...

27 Nov 2020

Recent events have once again highlighted the growing concerns centred on the UK's growing use of Buy Now Pay Later (BNPL) services.

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Martin Lewis highlights growing Buy Now Pay Later concerns

Posted on in Cycles News

BNPLEnglish journalist and television presenter, Martin Lewis OBE, most well-known for founding MoneySavingExpert.com, has put forward his concerns about the growing popularity of Buy Now Pay Later (BNPL) providers.

Speaking on BBC Radio 5 Live Lewis describes the popular BNPL payment methods as "an explosive form of credit that's becoming quickly dominant".

 

 

 

The ACT has previously raised concerns about the improper regulation of BNPL providers and the risks that this brings to potential customers.

Read the full ACT article here.

 

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