New buy-now, pay-later rules to come into force. How will they protect you?

Consumers are set to gain stronger rights and clearer information in line with other types of credit ending the ‘Wild West’ of unregulated borrowing

Man holding shopping bags
(Image credit: Westend61 via Getty Images)

More than 10 million people who use buy-now, pay-later (BNPL) when they shop online will gain stronger rights and clearer protections under new rules announced by the government today (19 May).

While buy-now, pay-later can make sense if you know what you’re doing and want to spread the cost of large purchases, it has left some people borrowing more than they can afford.

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Laura Miller

Laura Miller is an experienced financial and business journalist. Formerly on staff at the Daily Telegraph, her freelance work now appears in the money pages of all the national newspapers. She endeavours to make money issues easy to understand for everyone, and to do justice to the people who regularly trust her to tell their stories. She lives by the sea in Aberystwyth. You can find her tweeting @thatlaurawrites