ARTICLE · 06 AUGUST 2025

Buy Now Pay Later reforms have commenced: what does this mean for you?

Holley Nethercote

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BNPL providers must now hold a credit licence & follow consumer credit laws under new regulations.

AustraliaConsumer Protection

Katherine Temple

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Buy Now Pay Later (BNPL) providers are now regulated under the National Consumer Credit Protection Act 2009 (National Credit Act).¹ So, what do these reforms mean for the BNPL industry?

What has changed?

Previously, BNPL arrangements were not regulated under the National Credit Act because they typically fell under certain exemptions available under the National Credit Code (NCC). BNPL arrangements were not subject to responsible lending obligations (RLOs) or other National Credit Act requirements, such as the requirement to hold an Australian Credit Licence (ACL).

The Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 (Amending Act) was passed on 10 December 2024, and extended the operation of the NCC to the provision of credit under a BNPL contracts.

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