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.
The instant gratification offered by payment gateways like Afterpay is the stuff of retail dreams. More than a payment method; it’s a way of delivering audiences, where the last piece of the retail puzzle has become a customer’s first port of call.
