One in five consumers using buy now, pay later miss payments, but ASIC stops short of imposing new regulation on the sector – ABC News

Australia’s corporate watchdog says some consumers are having to cut back on essentials such as meals because of debt they have racked up from using buy now, pay later, warning one in five consumers are missing payments.
Key points:

• ASIC has stopped short of recommending that buy now, pay later players be regulated in the same way as credit card companies
• The corporate watching’s review into six buy now, pay later players found that some were causing consumers harm
• The industry is also developing…

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