New Buy Now Pay Later Rules Coming to UK From July 15 2026 - Birmingham Live
- Stronger protections for Buy Now Pay Later customers will begin on July 15, 2026, as stated by the Financial Conduct Authority .
- Customers will receive clear information about agreements, including payment details and consequences for missed payments, according to regulations by the FCA.
- Lenders must ensure affordability checks and provide support for customers facing financial difficulties under new FCA rules.
- The buy now pay later market reached £13 billion in 2024 with 10.9 million adults using it, according to the FCA.
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15 Articles
Britons given new Buy now Pay Later protections after £33million of debt written off
Buy Now Pay Later (BNPL) customers will gain new regulatory protections from July after the Financial Conduct Authority (FCA) confirmed the sector will move under its formal oversight.The changes follow the Government’s decision to regulate the sector and will bring BNPL products under the FCA’s Consumer Duty framework.Under the new rules, lenders will be required to carry out proportionate affordability checks before offering credit to customer…
Shoppers who use Buy Now, Pay Later schemes will be given better guidance about the lending practice when new regulation's brought in later this year.
The payment method is used to spread the cost of purchases over a period of time. The Financial Conduct Authority says from July new rules will be put in place to protect customers. Simon Trevethick from the StepChange debt charity in Sutton explains what will change. https://audioboom.com/posts/8859945-simon-trevethick-stepchange
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