After years of scrutiny, BNPL products such as Afterpay will now be regulated under The Credits Act. Assistant Treasurer Stephen Jones announced the move on Monday.
Locally-born buy now, pay (BNPL) later giant Afterpay has tweaked its late fee structure for purchases under $40, as lawmakers consider exposing the company and its competitors to enhanced consumer protections under Australia's credit regulation.
Of all the unexpected trends to come out of COVID-19, there’s one fintech story that has dominated headlines: Afterpay, and the buy-now-pay-later boom.
