Regulation of buy now pay later

We responded to the government’s consultation on draft legislation to regulate buy now pay later (BNPL) products.

As set out in our response to the initial consultation, there is clear evidence that unregulated BNPL is causing financial difficulty and encouraging people to get into unaffordable debt.

We believe these proposals are broadly proportionate and support bringing BNPL into regulation as soon as possible.

Attention: We have been informed of fraudulent activity where people are offering unsecured loans using our name.

Please be careful as we do not provide loans or contact customers for this purpose. If you've been approached, please report to Action Fraud immediately via their website or on 0300 123 2040.