BNPL Rules Edging Closer in the UK
Hey Payments Fanatic!
After years of waiting, and then waiting some more, the UK’s Financial Conduct Authority is now closer to regulating buy now pay later. But don’t get too excited just yet. Full oversight isn’t set to kick in until July 2026, so the countdown continues...
The FCA outlined plans that would require lenders to assess affordability and support borrowers who fall behind. Firms will be able to register early under a temporary permissions regime before applying for full authorisation.
“We have long called for BNPL products to be brought into our remit,” said Sarah Pritchard, deputy CEO of the FCA. “Our regulation will help consumers navigate their financial lives.”
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