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The Latest Breaking News from BNPL

42% of buy now pay later customers ‘borrowed money to make repayments’

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

The Independent UK

Embattled buy now, pay later sector to be regulated under credit laws

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

The Guardian - AU

MSME lender FlexiLoans raises $90 million

BENGALURU: MSME-focused lending startup FlexiLoans.com has raised nearly $90 million from Denmark-based PE firm MAJ Invest, UK-based fintech investor Fasanara Capital, and the family offices of Harry Banga and Yogesh Mahansaria, along with many existing shareholders such as Sanjay Nayar, chairman of private equity firm KKR India. The funds will…

The Times of India

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Apple’s buy now, pay later service couldn’t have come at a worse time

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

Input

NAB to introduce buy now, pay later product placing further pressure on existing operators

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

The Guardian - AU

Gen Z is falling into debt thanks to ‘buy now, pay later’ startups

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

Input

Klarna to report product use and missed payments to UK credit reference agencies

Klarna said it will protect customers and provide the industry with greater visibility of BNPL use, helping to improve affordability assessments.

The Independent UK

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Klarna to start reporting UK customer debts to credit agencies

Move by Swedish firm, the UK’s leading buy now, pay later company, will begin on 1 June

The Guardian - UK

Buy now, pay later businesses popping up in agriculture industry

If a farmer needs to buy cattle or grain, should they be approved for huge loans within 48 hours? The buy now, pay later industry moves in on farmers who could take advantage of six to 12-month loans.

ABC News

More Australians in debt spiral as buy now, pay later loans increase to cover daily basics

Australians are seeking out buy now, pay later options to cover daily essentials at an alarming rate, as more people struggle to survive.

ABC News

‘Dangerous strategy’: Buy-now/pay-later grocery shopping sparks debt fears

Finance experts are concerned about the expansion of buy now pay later platforms into everyday shopping as supermarkets and petrol stations open their arms.

The New Daily

3 Buy Now, Pay Later (BNPL) Stocks Wall Street Predicts Will Rally 32% to 115%

The BNPL industry has gained traction lately owing to consumers' growing preference for deferred payment of online purchases. Furthermore, rising investments by prominent industry leaders have been driving the BNPL market’s growth. So, Wall Street analysts expect fundamentally strong BNPL stocks PayPal (PYPL), Block (SQ), and Affirm (AFRM) to deliver…

StockNews.com

NatWest to launch ‘buy now, pay later’ credit scheme this summer

First UK high street bank moves into lucrative yet unregulated payment sector

The Guardian - UK

NatWest to offer 'buy now pay later' option to customers

The bank said it would put safeguards in place to help make sure lending is affordable

Birmingham Post

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news in one place.

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ABC News

'A downward debt spiral': Global calls to rein in buy-now, pay-later companies

A global alliance of consumer groups is calling for regulation of the buy-now, pay-later industry amid warnings that more customers will end up in a debt spiral as the cost of living goes up.

The Independent UK

‘Like debt quicksand’: How Klarna’s new card could impact the financially vulnerable

As Klarna promises greater convenience and flexibility with its latest offering, Saman Javed speaks to its users about the dangers of buy now, pay later services

The Guardian - US

Buy now, pay later schemes are catching the eye of consumers, and of federal regulators

Industry says no-interest BNPL loans are more equitable than credit cards but consumers say they can be a spending trap

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