‘Buy Now Pay Later’ in the Crosshairs of Australian Regulators

‘Buy Now Pay Later’ in the Crosshairs of Australian Regulators
Zip signage is seen on a storefront in Sydney, Australia, on Oct. 22, 2019. AAP Image/Derek Rose
Alfred Bui
Updated:

The Australian government is looking to tighten the regulation of the “buy now, pay later” (BNPL) sector as it hopes to stop more customers from falling into dire financial straits.

Speaking to Nine Network on Nov. 21, Financial Services Minister Stephen Jones said the BNPL industry could be subject to the same regulation as the credit and banking sector.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
Related Topics