New regulations will ‘throttle’ buy now, pay later
Buy now, pay later providers will be forced to use broader data sets to determine and explain why their loans are suitable for customers under new responsible lending checks.
Tougher requirements for credit checking could force Afterpay to invest to update the systems used to admit new customers. The new rules, that will prevent automatic credit limit increases, are also likely to “throttle industry volumes”, according to stockbroker Shaw and Partners.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Financial services
Fetching latest articles