CONSUMERS URGENTLY NEED PROTECTION FROM ‘BUY NOW, PAY LATER’ DEALS

I again called on the UK Government to urgently regulate ‘Buy Now, Pay Later’ deals, with research from Which? finding that many consumers attracted to such options do not realise they are taking on debt. These deals have soared in popularity recently, yet they are almost completely unregulated, leaving consumers at risk of financial harm.

We urgently need the UK Government to commit to regulating this area of the credit market with much greater transparency about the risks of financial harm consumers face when entering ‘Buy Now, Pay Later’ arrangements.

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