Shopper rights group Which? is looking for stronger safety for customers utilizing purchase now, pay later (BNPL) merchandise as fintech accelerates and simplifies its take-up.
Which? desires stronger safeguards to make sure that customers perceive the dangers earlier than clicking to simply accept merchandise.
This follows analysis from Which? that discovered many BNPL customers don’t suppose it’s a type of credit score and subsequently go away themselves open to issues sooner or later.
The recognition of BNPL schemes has surged by fintechs akin to Klarna, which was based in 2005 and already has 13 million prospects within the UK