TRANSUNION TO ACCEPT BNPL DATA
TransUnion has become the first credit reference agency in the UK to accept Buy Now, Pay Later (BNPL) finance data in its consumer credit files.
TransUnion’s chief executive in the UK Satrajit Saha, said:
“We’re delighted to announce these important changes to the way BNPL products are treated within the credit ecosystem.
We’ve been working closely with prominent providers of BNPL finance to lead the way in line with industry changes and consumer needs.
Incorporating this data into credit reports will support consumers that are using this type of point-of-sale finance, whilst also ensuring lenders have a comprehensive picture of a borrower’s financial position.”
If your businesses uses BNPL products to sell goods or services, get in touch with our team today to find out how these major market moves are affecting your position.