Closed consultation

Regulation of Buy-Now, Pay-Later: consultation on draft legislation (October 2024)

From:
HM Treasury
Published
17 October 2024

We are analysing your feedback

Visit this page again soon to download the outcome to this public feedback.

Summary

The government is consulting on draft legislation to bring Buy-Now Pay-Later products into regulation.

This consultation ran from
to

Consultation description

Across the UK, millions have used Buy-Now, Pay-Later (BNPL) products, which can be a helpful way of managing finances from month to month. However, without regulation there are risks.

The government has published a consultation setting out its plans for regulating the BNPL market. These plans aim to ensure people using BNPL products receive clear information, avoid unaffordable borrowing, and have strong rights when issues arise. The government’s approach will maintain access to a popular product while adding safeguards.

The consultation will be open until 29 November. After reviewing feedback, the government will bring forward legislation as soon as possible.

This consultation responds to feedback HM Treasury received to its previous consultation that ran between February and April 2023: Regulation of Buy-Now Pay-Later: consultation on draft legislation

Documents

Regulation of Buy-Now, Pay-Later consultation 2024

PDF, 381 KB, 57 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Buy-Now, Pay-Later Statutory Instrument draft

PDF, 240 KB, 13 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Updates to this page

Published 17 October 2024

Sign up for emails or print this page