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Buy Now, Pay Later legislation introduced into UK parliament

( May 19, 2025, 08:44 GMT | Official Statement) -- MLex Summary: Legislation that paves the way for Buy Now, Pay Later products to be brought within financial services regulation will be introduced into UK parliament today. From next year, BNPL firms will need to follow a consistent set of standards, including affordability checks and faster access to refunds, and customers will have the right to complain to the Financial Ombudsman. The government has also published feedback to an October 2024 consultation on BNPL.Statement below, documents attached. ...

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