Britain to regulate buy now, pay later lenders

Britain is to regulate buy now, pay later (BNPL) lenders from next year in a shift the government said would give shoppers stronger rights and more protections from the “wild west” of unregulated borrowing.

The move, which comes alongside a wider set of changes to legislation for regulating consumer credit, will mean BNPL is treated like other credit products, the UK finance ministry said in a statement on Monday.

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