‘Buy now, pay later’ companies don’t need regulation, Senate finds
By Ellie Dudley · 3 September 2020 · Tech
By Ellie Dudley · 3 September 2020 · Tech
A surprise move from the Senate Select Committee is leaving consumers vulnerable to financial risks. Will BNPL companies be able to self-regulate, or will consumers pay the price?
Consumers using buy now, pay later services won't have legal protection as companies such as Afterpay and Zip are being called to 'self-regulate'. This comes from an interim report from the Senate Select Committee on Financial Technology and Regulatory Technology. Buy now, pay later (BNPL) fintech companies have become increasingly popular, with Australia's leader Afterpay […]