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Buy Now, Pay Later platforms will soon be more regulated

May 22, 2024
The Consumer Financial Protection Bureau announced new rules today requiring companies like Afterpay and Klarna to investigate when customers dispute a charge, and issue refunds for returned products. They'll also have to provide periodic billing statements.
Rohit Chopra, director of the Consumer Financial Protection Bureau, speaks at a Senate hearing. The CFPB recently announced new rules for Buy Now, Pay Later firms that signal the CFPB will move toward treating them like credit card providers.
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Americans go into debt — this time for groceries

May 17, 2024
More than a quarter of Americans used a credit card to buy groceries last year and did not pay off the balance when it was due.
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Buy now, pay later debt grows but is hidden from credit bureaus

May 13, 2024
Adobe Analytics projects that buy now, pay later loans could drive as much as $84 billion in spending in 2024. But the debt shoppers are racking up is basically hidden from credit bureaus, lenders and economists.
Consumers are increasingly opting for buy now, pay later options. And that debt is basically invisible to credit bureaus and lenders.
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Buy now, pay later platforms now offer subscriptions

Jan 29, 2024
Subscription offers are everywhere these days. But can they work when paying later is the whole point?
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When "buy now, pay later" becomes a way to pay for groceries

Nov 28, 2022
Many buy now, pay later services began as a way to help people make big-ticket purchases. Now, it's also a way to finance essentials.
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"Buy now, pay later" can come with a cost, federal consumer watchdog says

Sep 19, 2022
The CFPB says delinquencies and late fees add up and recommends tighter regulation of loans in line with the credit card industry.
Buy now, pay later services can be risky for consumers, who aren't always well-informed of the penalties for missed payments.
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Why buy now, pay later might not be such a good idea

Sep 12, 2022
These short-term credit companies are running into questions about their customers' ability to pay them back. Regulators are paying more attention.
"You buy more stuff when you're doing buy now, pay later because it feels like you're spending less money," says Vox reporter Emily Stewart.
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For public good, not for profit.

"Digital-first mentality" will accelerate for shoppers and sellers, Visa CEO says

Dec 1, 2021
Despite the omicron variant, "the recovery we're in has an awful lot of momentum," says Visa chief Al Kelly.
Visa has launched its own buy now, pay later service called Visa Installments. CEO Al Kelly advises small businesses to create effective websites and be adaptable.
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Buy now, pay later services are flourishing

Nov 30, 2021
Millennials are opting for plans that allow them to spread payments without accruing debt or interest.
Younger shoppers have changing attitudes about programs that allow them to spread out the payments of purchases.
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Mastercard gets in on the "buy now, pay later" trend

Sep 29, 2021
But don't credit cards already work this way? Not quite.
Major credit card companies could be getting into the buy now, pay later space.