.jpg){kind=avatar}
The new rules mean that BNPL lenders will now have to provide clear, upfront details to consumers using their services covering payment due dates, the total repayment amount, and information regarding missed payments.
"We want the BNPL sector to thrive – it provides an important source of credit to many – and we will continue to support firms who want to develop innovative new products," said Sarah Pritchard, deputy chief executive at the FCA.
https://www.fintechfutures.com/regulatory-actions/fca-confirms-new-protections-for-bnpl-borrowers
More posts by Andreas Ioannou
Recent posts from News by FinTech Collective