BNPL services are set to be regulated under credit laws from June, raising questions about transparency, affordability checks, and consumer impact. From 10 June 2025, buy now, pay later (BNPL) products will be regulated under the National Consumer Credit Protection Act, aligning them with traditional credit products for the first time. The changes will introduce new requirements for affordability checks, responsible lending practices, and stronger consumer protections. However, questions remain over how BNPL use will affect borrowers' credit scores and access to finance. The federal government released a further exposure draft of the planned reforms in early February this year after receiving substantial feedback from industry representatives, consumer advocates, and regulatory agencies.
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