Buy now, pay later companies want a say in shaping sector's rules

Buy now, pay later companies want the Federal Government to collaborate with the sector when developing regulatory guidelines that will shape the future of Australia's financial technology industry.

Peter Gray, the co-founder and director of ZIP Pay, encouraged regulators to adopt an"outcomes-based approach". "The regulators have the tools in their armoury to deal with misconduct or any products that aren't favourable to consumers."

And the ABC probably wants a say in how it's funded.

I bet they do😁

I like it, I use it and the only problem seems to be is they didn’t go cap in hand to the banks. Goes nicely with online shopping and with a retail down turn this must be helping

And?

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Companies have not 'paid proper attention' to their requirements under the law | Sky News AustraliaWesfarmers has become the latest company to underpay its staff, the conglomerate admitting it had underpaid its Target employees $9 million.\n\nColes has also confessed to underpaying its workers $20 million over six years.\n\nThe admissions come as the Coalition flags tougher laws to protect workers, which include naming and shaming companies that rip off their staff.\n\nThe National Secretary of the Shop, Distributive and Allied Employees' Association Gerard Dwyer told Sky News “we are unfortunately in a space where companies have not paid proper attention to their requirements under the law to ensure their employees are paid properly'.\n\n“To get to the crux of the matter really requires the enforcement powers for unions to be restored,” he said. \n\nImage: Getty
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