Rocio Concha, Which? Director of Policy and Advocacy, said:
“Using buy now pay later (BNPL) is an easy and convenient way to pay for millions. However, with currently little to no information or warnings about the risks of incurring late fees or getting into debt, it raises concerns that many shoppers do not fully understand the products they’re using.
“With the cost of living rising, appropriate affordability checks are needed to prevent people from building up debts they may struggle to repay.
“It is encouraging that the government has now set out plans to strengthen the regulation of interest-free BNPL credit agreements, but these must be urgently introduced to ensure users are properly protected.”
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