Regulation of Buy Now Pay Later services “threatens competition and innovation”
2 February 2021
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Victoria Hewson quoted in the Financial Times
The Financial Conduct Authority has suggested Buy Now Pay Later (BNPL) providers offered by online retailers such as PayPal and Klarna should be regulated to prevent people from getting into financial difficulty.
Reacting to the news, Victoria Hewson Head of Regulatory Affairs at the IEA said: “Extending new barriers to BNPL providers threatens competition and innovation, and could deprive consumers and merchants of this useful service altogether.”
Victoria Hewson also warned that heavy handed regulation could “leave only the relatively affluent able to readily access lawful credit.”
Read the full article here.
Reacting to the news, Victoria Hewson Head of Regulatory Affairs at the IEA said: “Extending new barriers to BNPL providers threatens competition and innovation, and could deprive consumers and merchants of this useful service altogether.”
Victoria Hewson also warned that heavy handed regulation could “leave only the relatively affluent able to readily access lawful credit.”
Read the full article here.
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