Which? responds to Credit Karma figures that show Buy Now, Pay Later debt bubble surpasses £4bn

Gareth Shaw, Which? Head of Money, said:

“Our research shows that shoppers are being bombarded with Buy Now, Pay Later (BNPL) schemes at the biggest retailers, often with no information or warnings about the risks of late fees or getting into debt, so it’s very concerning to see such a huge amount of debt related to these schemes.

“This demonstrates why there should be no further delay to plans for BNPL regulation, which should include much greater marketing transparency, information about the risks of missed payments and credit checks before consumers are cleared to use BNPL providers.”

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