Government outlines two-year wait for curbs on multibillion-pound industry as consumers face ‘bleak winter’
The consumer champion Martin Lewis has criticised the “painfully slow” pace of progress on regulating the buy now, pay later industry, amid indications that promised tougher rules are unlikely to take effect until 2024.
Buy now, pay later (BNPL) lets shoppers delay payment for products such as clothes and furniture. This form of credit enjoyed explosive growth during the pandemic, particularly among under-30s and those with tight finances.
