Australia looks to curb booming ‘buy now, pay later’ industry

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Consumer groups have urged the government to treat the services like credit cards. Read more at straitstimes.com.

SYDNEY - Australia is looking to crack down on the soaring “buy now, pay later” sector over concerns that consumers – especially younger people – are ending up with excessive debts that they cannot repay.

The federal government has signalled that it is considering a range of measures, including requiring that BNPL providers conduct financial checks to ensure that consumers can afford purchases.Get exclusive reports and insights with more than 500 subscriber-only articles every month

 

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