Instead, brand new FCAC ends that it will:
Factors and you may oversight
Notwithstanding BNPL’s many advantages, government are worried one to BNPL can cause more than-borrowing from the bank and over-indebtedness and you may accept that the greater broke up users feel from commission procedure, the fresh new less likely he or she is to help you concern their sales. As well, you’ll find reports you to even though BNPL is often labeled since a beneficial lower-attention solution, it can end up being pricey toward consumer when the payments are postponed. Almost you to-third from BNPL pages have made a later part of the fee or obtain a belated percentage, and therefore pattern seems to be growing 8 . Occasionally, shed you to percentage installment contributes to losing brand new zero- or reduced-interest fees bundle. (more…)