FCA secures contract charges for BNPL customers
What has happened?
In October 2023, the FCA announced that it had agreed deals with two buy now pay later (BNPL) firms, PayPal and QVC, to make their contract terms easier to understand for borrowers and ensure consumer credit compliance.
What is the background and key points of the announcement?
How can we help you with consumer credit compliance?
Thistle Initiatives has supported credit firms for over 10 years as a trusted consumer credit compliance and regulatory advisor. In addition to assisting you as-and-when, our team of specialists can serve as your right hand in meeting and complying with FCA regulations. We understand the importance of staying up-to-date and compliant and are dedicated to providing the guidance and support needed to do so.
Are you looking for help with your BNPL arrangements, vulnerable customer or Consumer Duty approach, or more general regulatory questions? Contact our specialist team now to schedule a free consultation. Get in touch with us by calling 020 7436 0630 or sending an email to email@example.com.
See also our BNPL blog posts at Lenders offering Buy-Now Pay-Later (BNPL) and related products to be FCA regulated (thistleinitiatives.co.uk) and Making Buy Now Pay Later terms clearer and fairer (thistleinitiatives.co.uk)