London | Britain’s financial regulator has set its sights on the burgeoning phalanx of buy now, pay later companies, drawing up plans to bring ASX-listed players such as Afterpay, Zip, Openpay and Laybuy into its supervisory net.
The British government on Tuesday said new laws would require buy now, pay later providers to conduct affordability checks before lending to customers, which may affect the products’ key attributes of convenience and simplicity.
Loading...
Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
