Business
Regulation for Afterpay is coming but the devil will be in the detail – Sydney Morning Herald
The bigger issue for the likes of our homegrown BNPL giant, Afterpay, is the regulatory geographic domino effect.
The Reserve Bank of Australia and the Australian Securities and Investments Commission have to date given BNPL players a regulatory leave pass – in part because it is still a relatively small part of the consumer credit industry.
That said there is scant detail in the UK report on how any regulation would apply.
The most likely form it would take is to mandate BNPL providers to undertake some kind of credit check on customers to ensure they have the financial wherewithal to make instalment payments….
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