New regulations for Buy Now, Pay Later providers in Australia
Buy now, pay later providers will face stricter requirements as new regulations come into effect.
Source: dynamicbusiness.com
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More consumers relying on BNPL
Consumers are using buy now pay later services more frequently and spending larger amounts, as they fall back on unregulated credit to make ends meet.
Source: bankingday.com
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.
Source: smartcompany.com.au
BNPL products to be regulated as credit devices: Jones
‘Doing nothing is not an option’ as research finds women, first nations communities and those on low incomes are disproportionately affected by BNPL debt.
Source: accountantsdaily.com.au
AMP Advice partners with open banking fintech
AMP Advice has partnered with fintech firm Frollo to provide advisers and their clients with access to its open banking technology.
Source: moneymanagement.com.au