FCA warns of buy now pay later usage amid cost of living crunch.
Recent publications has revealed data showing nearly one in 10 people have used BNPL schemes to cover essentials, while 6% said they have bought groceries using BNPL, according to research for Hargreaves Lansdown.
With more people turning to BNPL products, the FCA is set to publish new legislation that will bring the sector under far stricter regulations.
At PPL, we work with some of the largest and well known on-line retailers, supporting them in ensuring their customers understand the credit products on offer and that the regulatory journey is compliant. We have the capacity and expertise to support these sizeable entities whilst offering a bespoke and personal approach.
Offering BNPL and concerned that upcoming changes may impact you? Get in touch with our expert team to discuss more.