Major rule change affecting all shoppers using buy now, pay later

Major rule change affecting all shoppers using buy now, pay later

Shoppers are set to face stricter checks following an impending payment rule change.

FCA to crack down on buy now pay later loans

standfirst: The Financial Conduct authority (FCA) wants to introduce protections for Buy Now Pay Later borrowers from 2026 as almost 11m people decided to use it in the last yearBuy Now Pay Later (BNPL) loans will begin to be regulated by the FCA from 15 July 2026 as the popularity of people using them consistently increases. In 2022 8.8m people decided to use a BNPL loan but with how easy it is to gain access to credit one in five (10.9m) chose…