The Latest Breaking News from BNPL

Apple Inc. (NASDAQ: AAPL) is planning to offer buy now, pay later (BNPL) services in the US despite concerns of a potential market squeeze as more providers have a crack at the sector amid growing consumer borrowing and spending. 

Calls to regulate the booming “buy now, pay later” (BNPL) industry have not deterred big brands like Apple and Amazon from the idea of offering consumers an interest-free, no-fee way to spread payments for purchases. Apple cited “users’ financial health” when it announced this new feature, but research shows financially…

Customers left unable to return goods or process refunds after being faced with error message on fashion brand's home page

Increase in consumers juggling and shuffling debts calls for swift action before it is too late

Citizens Advice says consumers ‘piling borrowing on top of borrowing’ by paying with credit cards

Government plans law change to bring some forms of unregulated BNPL products into Financial Conduct Authority regulation

In the 18 to 34 age group, just over half had used some form of borrowing, according to a Citizens Advice survey.

Financial services minister Stephen Jones says government will also move to regulate cryptocurrency exchanges like other financial markets

Apple's Pay Later service comes as competitors like Klarna and Afterpay face scrutiny and lawsuits for leading young customers into debt

Standalone operators feel burden of rising interest rates and slowing growth as third big Australian bank enters BNPL scene

Companies like Klarna and Afterpay can enable bad spending habits, tank your credit, and lack the consumer protections of genuine credit lenders.