How proposed buy now, pay later regulations will protect shoppers

The Treasury is consulting on new rules to protect people when using buy now, pay later schemes – here is how it could affect you

buy now pay later puzzle
(Image credit: Getty Images/Nora Carol Photography)

Shoppers are set to be protected by new rules when using buy now, pay later (BNPL) schemes but regulations may not be introduced until at least 2026.

The Treasury has launched a consultation on legislation that would let the Financial Conduct Authority (FCA) fully regulate BNPL firms.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.