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The Latest Breaking News from BNPL

New regulation must close Buy Now Pay Later ‘loopholes’

Consumer groups are urging the Albanese government to adopt the toughest regulatory model on the table for the booming $16 billion Buy Now Pay Later sector, warning vulnerable Australians are foregoing essentials to meet mounting digital debts. Assistant Treasurer Stephen Jones, who has pushed for greater scrutiny of the sector,…

InnovationAus

Buy now, pay later schemes increasingly an avenue for financial abuse, report finds

A quarter of financial counsellors surveyed said at least half the women seeking help had been coerced into acquiring BNPL debts

The Guardian - AU

Can Affirm take down the credit card industry? It’s CEO Max Levchin’s 30-year plan

Between a huge IPO pop and eventual stock drop, Affirm's CEO says the mission to help consumers hasn't wavered.

Fortune

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Australians turning to buy now, pay later schemes for groceries ‘stuck in a revolving door’ of debt

Financial counsellors say more and more people are turning to BNPL services for essentials such as food, petrol and bills

The Guardian - AU

Experts warn against using Klarna to pay for Deliveroo takeaways

There are fears people will fall into further debt as the costs spiral

The Independent UK

Brits can now spread the cost of a Deliveroo using Klarna - and experts don't like it

Consumers can now buy a Deliveroo takeaway using buy now, pay later firm Klarna, but experts say the idea is 'extraordinarily irresponsible' and can impact your finances

Daily Mirror

‘It’s just so easy, isn’t it?’ How buy now, pay later can leave Britons struggling with debt

We spend almost £1bn a month through retailers’ spread-the-cost payment schemes. But many borrowers find themselves missing payments, covering instalments with credit cards – and using the schemes to pay for food and other essentials. Is online credit spiralling out of control?

The Guardian - UK

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Can’t qualify for a personal loan? 4 alternatives to try

A personal loan can be a good option when you need money, but it typically requires strong credit and high income to qualify

The Independent UK

TrueMoney inaugurates 'Pay Next - Credit on Hand'

TrueMoney, a major e-payment and financial service provider in Asean, is offering a buy now, pay later (BNPL) service through its Wallet app, enabling users to make purchases from a credit line without having to spend their personal cash.

Bangkok Post

Buy Now, Pay Later Payments: New Rules Consumers Should Know

Big changes are ahead for Buy Now Pay Later

The Street

Debt concerns as UK public sector workers turn to buy now, pay later

Use of services such as Klarna, Clearpay and Laybuy rising as staff rejected by mainstream lenders

The Guardian - UK

One in seven buy now, pay later customers had more than 20 loans last year, Choice survey shows

Use of BNPL services to cover essential bills raises concerns as Albanese government prepares to consult on regulating the sector

The Guardian - AU

Where will struggling households turn to after UK clampdown on payday lenders?

Market once dominated by Wonga has halved but some industry figures say there could be role for more tightly regulated sector

The Guardian - UK

Back-to-School Shoppers Take More 'Buy Now, Pay Later' Loans

A lot of cash-strapped or financially wary shoppers have chosen to use buy now, pay later to pay for back-to-school expenses.

The Street

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Investors Business Daily

Can Affirm Win Back Investor Confidence In Buy Now, Pay Later?

When Affirm Holdings reports June quarter earnings on Thursday, the consumer financing firm's fiscal 2023 outlook could move AFRM stock.

Benzinga

ASX Buy-Now-Pay-Later Stocks Enter Regulatory Spotlight

From relative obscurity, buy-now-pay-later (BNPL) services have become instant superstars.

The Guardian - UK

Buy now, pay later firms in UK warned over influencer ads on social media

Financial Conduct Authority will take action if posts do not inform consumers of debt risks

The Street

This 'Hack' May Help Consumers With Rising Interest Rates

Carrying a balance on your credit card debt is growing more expensive as the Fed hikes rates.

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news in one place.

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Bangkok Post

KBank, Carabao team up for loan service

Kasikornbank (KBank) has joined hands with Carabao Group, the maker of Carabao Dang energy drink, on a plan to offer personal loans under the Kbao brand at Tookdee convenience stores.

The New Daily

Federal Reserve’s dovish tilt and mega-tech earnings dominate markets this week

In this week's top market news, the Federal Reserve indicates it could ease its foot off the brake pedal as US tech companies perform better than expected.

Businessweek

The Buy Now, Pay Later Juggernaut Is About to Be Tested

Economic uncertainty, competition, regulators, and the usual consumer debt problems are spoiling the fun.

Chronicle Live

Spiralling costs forcing families to use credit to pay essential bills

Increase in use of Buy Now Pay Later deals to pay for energy and food sounds alarm at energy and debt advice charities

Irish Independent

Virgin Money plans to enter buy now, pay later market

Virgin Money is set to launch a new buy now, pay later (BNPL) credit card product.

The Guardian - UK

The Pyramid of Lies by Duncan Mavin review – the disgraced financier who charmed David Cameron

This meticulous study reveals the greed and gullibility of the ex-prime minister whose endorsement of Australian financier Lex Greensill tells us much about how politicians operate

The New Daily

Why buy now, pay later can cost much more than a credit card

Buy now, pay later is often touted as a cheaper alternative to credit cards, but new research shows it can actually end up costing much more.

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