Business
Afterpay, Zip caught in UK regulatory crackdown – Sydney Morning Herald
Rapid growth in buy now, pay later (BNPL) providers was putting some consumers at risk of financial harm, an official review in Britain has found, calling for urgent…
Chair of the review Christopher Woolard said that most of us will use credit at some point in our lives. So, its vital that we have a fair market that works for everyone. New ways of borrowing and the impact of the pandemic are changing the market, with billions of pounds now in unregulated transactions and millions of consumers at greater risk of financial difficulty.
Afterpay, which trades under the name Clearpay in the UK, said it welcomed the announcement and it would work with regulators. It…
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