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The Latest Breaking News from BNPL

Afterpay co-founders take home record $264m as Australian executive pay bounces back

Amid sluggish wage growth, chief executive pay among the top 100 listed companies rises to about 100 times average adult earnings

The Guardian - AU

In Indonesia, ‘pay later’ services leave some drowning in debt

Buy now, pay later services take off in Southeast Asian country where most people don’t have a bank account.

Al Jazeera

Britons turn to buy now, pay later to cope with cost of living

Users are now paying off 4.8 purchases on average

Wales Online

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A third of UK ‘buy now, pay later’ users say they can’t handle payments

Research finds BNPL shoppers now paying off average of 4.8 purchases since cost of living began to surge

The Guardian - UK

Britons turn to buy now, pay later to cope with cost-of-living crisis

BNPL users are now paying off 4.8 purchases on average – up from 2.6 in February – with the average amount owed standing at more than £250.

The Independent UK

Martin Lewis warns buy now, pay later crackdown won't protect families from 'bleak winter'

Martin Lewis has hit out at the “painfully slow” process of regulating the buy now, pay later (BNPL) sector. The MoneySavingExpert said families face a “bleak winter” as the new measures to protect people from taking on debt they can’t afford won’t

Daily Mirror

Buy now, pay later companies on the brink as bad debts and interest rates rise

Buy now, pay later is a popular payment method, but the sector is facing a perfect storm of rising interest rates, bad debts, a crowded marketplace and looming regulation.

ABC News

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Martin Lewis hits back at 'painfully slow' regulation process for Klarna, Clearpay and more

Money Saving Expert criticised the 'painfully slow' process to regulate the buy now, pay later schemes that has thrown many young people into debt - firms such as Klarna, Laybuy and Clearpay became popular during the pandemic.

Glasgow Live

Martin Lewis frustrated at slow pace of buy now, pay later rules

Government outlines two-year wait for curbs on multibillion-pound industry as consumers face ‘bleak winter’

The Guardian - UK

Buy now, pay later: your rights over refunds as Missguided collapses

The fashion brand is not paying buyers back – but big finance firms say they will return cash

The Guardian - UK

Buy now, pay later clobbered by interest rate hikes and inflation fears

Buy now pay later firms have been the darlings of share markets in recent years but their shareholders are at last having to pay the cost

The New Daily

Apple Enters BNPL Sector, Unveils Apple Pay Later

Apple Inc. (NASDAQ: AAPL) is planning to offer buy now, pay later (BNPL) services in the US despite concerns of a potential market squeeze as more providers have a crack at the sector amid growing consumer borrowing and spending.

Benzinga

Buy now pay later: how to protect consumers without regulating it out of existence

Calls to regulate the booming “buy now, pay later” (BNPL) industry have not deterred big brands like Apple and Amazon from the idea of offering consumers an interest-free, no-fee way to spread payments for purchases. Apple cited “users’ financial health” when it announced this new feature, but research shows financially…

The Conversation

Missguided shoppers left in the dark over refunds and returns after website suspended

Customers left unable to return goods or process refunds after being faced with error message on fashion brand's home page

Chronicle Live

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The Guardian - UK

Buy now, pay later boom ought to worry UK regulators

Increase in consumers juggling and shuffling debts calls for swift action before it is too late

The Guardian - UK

Two in five buy now, pay later shoppers borrow funds to clear the debt

Citizens Advice says consumers ‘piling borrowing on top of borrowing’ by paying with credit cards

Wales Online

Many buy now, pay later customers ‘borrowed money to make repayments’

Government plans law change to bring some forms of unregulated BNPL products into Financial Conduct Authority regulation

The Independent UK

42% of buy now pay later customers ‘borrowed money to make repayments’

In the 18 to 34 age group, just over half had used some form of borrowing, according to a Citizens Advice survey.

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news in one place.

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The Guardian - AU

Embattled buy now, pay later sector to be regulated under credit laws

Financial services minister Stephen Jones says government will also move to regulate cryptocurrency exchanges like other financial markets

The Times of India

MSME lender FlexiLoans raises $90 million

BENGALURU: MSME-focused lending startup FlexiLoans.com has raised nearly $90 million from Denmark-based PE firm MAJ Invest, UK-based fintech investor Fasanara Capital, and the family offices of Harry Banga and Yogesh Mahansaria, along with many existing shareholders such as Sanjay Nayar, chairman of private equity firm KKR India. The funds will…

Input

Apple’s buy now, pay later service couldn’t have come at a worse time

Apple's Pay Later service comes as competitors like Klarna and Afterpay face scrutiny and lawsuits for leading young customers into debt

The Guardian - AU

NAB to introduce buy now, pay later product placing further pressure on existing operators

Standalone operators feel burden of rising interest rates and slowing growth as third big Australian bank enters BNPL scene

Input

Gen Z is falling into debt thanks to ‘buy now, pay later’ startups

Companies like Klarna and Afterpay can enable bad spending habits, tank your credit, and lack the consumer protections of genuine credit lenders.

The Independent UK

Klarna to report product use and missed payments to UK credit reference agencies

Klarna said it will protect customers and provide the industry with greater visibility of BNPL use, helping to improve affordability assessments.

The Guardian - UK

Klarna to start reporting UK customer debts to credit agencies

Move by Swedish firm, the UK’s leading buy now, pay later company, will begin on 1 June

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