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The Independent UK
The Independent UK
Business
Vicky Shaw

Buy Now, Pay Later rules are changing. Here’s what you need to know

BNPL FCA Financial Ombudsman Service Klarna the Financial Conduct Authority StepChange

Millions of customers who use Buy Now Pay Later (BNPL) services are set to benefit from significantly enhanced protections from Wednesday.

From July 15, the sector will fall under the regulation of the Financial Conduct Authority (FCA), and lenders will need to be authorised by the regulator to provide BNPL products.

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