Current unregulated buy now pay later products to be brought within the scope of FCA regulation – plus new advertising guidance

Written By Daksha Mistry

Supporting you and your business

Current unregulated buy now pay later products to be brought within the scope of FCA regulation – on 2 February 2021, former interim chief executive of the Financial

Conduct Authority (FCA), Christopher Woolard CBE, published a review on the risks of the currently unregulated buy now pay later (BNPL) products (the Woolard Review).

Plus new advertising guidance - ‘Buy now, pay later’ (BNPL) options are becoming increasingly popular. BNPL is an option that enables customers to delay paying for goods or

allows them to pay in instalments. The service typically bears interest which consumers have to pay. It differs from hire purchase because with BNPL, the customer owns the goods on purchase, it is just that the due date for payment for the goods is delayed.

Daksha Mistry
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