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PODCAST Blog Blog Blog 9 Mar, 2021 Author Ranina Sanglap Australia s buy-now-pay-later players may need more regulation to protect customers after the point-of-sale credit industry has grown rapidly in recent years, helped in part by an absence of oversight, experts say. Companies such as Afterpay Ltd., Zip Co. Ltd. and Brighte Capital Pty. Ltd. have attracted droves of consumers, especially younger buyers on e-commerce platforms, by allowing them to pay for their purchases in installments and not charging them interest. That has also led to criticism of their lending practices, mainly from customers being charged heavy late fees. Buy-now-pay-later, or BNPL, players have so far avoided regulation as provisions of the Australian National Consumer Credit Protection Act of 2009 do not apply to certain types of loans, including interest-free credit for a short term. The industry adopted a code of conduct for self-regulation from Mar

New zealandNathan zaiaGraham cookePeter marshallMclean rocheZealand banking group ltdAustralian national consumer credit protectionFidelity national information services incNational australia bank ltdAfterpay ltdCommonwealth bankInvestments commissionWestpac banking corpBrighte capitalYin yeohGrant halverson