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BNPL products will now have similar regulation to credit cards

After years of scrutiny, BNPL products will now be regulated under The Credits Act, according to Assistant Treasurer Stephen Jones.

Derek roseStephen jonesRehan dalmeidaSimon dochertyMichael saadatAustralian finance industry associationFinancial servicesBuy now pay laterServices minister stephen jonesResponsible lendingBorrowing conferencePay advanceCredit actResponsible lending obligationsTech australiaNow pay later

Buy now, pay later industry to be regulated under Credit Act as part of changes by federal government

Buy now, pay later services, including Afterpay and Zip Pay, will be regulated under the Credit Act and required to obtain an Australian Credit Licence under proposed changes by the federal government.

Stephen jonesFinancial servicesAustralian financial services licenceFinancial services minister stephen jonesResponsible lendingBorrowing conferenceResponsible lending obligationsFirst nationsGood shepherdZip payBuy now pay laterFederal governmentStephen jonesFinancial regulation

Australia politics live: Chalmers promises action on consultants inexcusable use of government secrets; BNPL reforms to be announced | Australian politics

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Australian capital territoryZoe danielPenny wongDaniel hurstJosh butlerAmy remeikisAnthony albaneseMike bowersPaul karpStephen jonesResponsible lendingBorrowing conference

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