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AFIA today welcomes the ‘Regulating Buy Now Pay Later in Australia’ Options paper released by Treasury, which looks to introduce a proportionate, scalable and targeted approach to regulation and ensuring Australians have access to innovative new products and services with adequate consumer protection.
Diane Tate, CEO of the Australian Finance Industry Association (“AFIA”), said:
“Australians of all ages are using Buy Now Pay Later because it’s interest free and enables them to better manage their money.
“AFIA welcomes the Government’s recognition of the important role of BNPL in improving financial inclusion, increasing innovation and competition, and driving opportunities for retailers.
The ‘Regulating Buy Now Pay Later in Australia’ Options paper is here.
The Economic Impact of BNPL in Australia research is here.
View the full AFIA media release here.