Government announces 'balanced' BNPL reforms

The government has announced that they will finally regulate buy now, pay later loans under the Credit Act. This will mean stronger protections for people, but some of the safeguards that apply to providers of other types of credit, like credit cards, are currently missing from the plan.

Together, we’ve fought hard to rein in rogue lenders, and today is major progress made possible by people like you speaking up. Over the coming months, we’ll continue to work together to make sure nobody is left behind. Join the campaign to #CloseLendingLoopholes:

Read more:


Probably a good thing that it’s now being regulated as credit - how these companies got away for so long with pretending like it’s just layby is beyond me.