Business
Buy now, pay later darlings like Afterpay have convinced a Senate inquiry that they don’t need to be regulated, despite concerns – Business Insider Australia
Australia’s buy now, pay later (BNPL) platforms have exploded at such a clip they’ve managed to outrun the long arm of the regulator.
- The Senate Fintech Inquiry has handed down its interim report, indicating that buy now, pay later platforms won’t be subject to further regulation.
- “Because innovation like ‘buy now, pay later’ often occurs on the fringes of regulation, it is inappropriate to force each innovation into a one-size-fits-all approach,” it concluded.
- Instead, the inquiry appears to be content allowing companies to “self-regulate”.
- Visit Business Insider Australia’s homepage for more …
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