FINANCIAL CONDUCT AUTHORITY
FCA PS19/17: final rules on buy now pay later products
On 12 June 2019, the Financial Conduct Authority (FCA) published
a policy statement on buy now pay later (BNPL)
offers (PS19/17). The paper is relevant to firms involved in
offering BNPL deals, including retailers and lenders.
BNPL offers are credit offers with a product feature that gives
the consumer a promotional period during which they are not
generally required to make repayments. If the consumer does not
repay the entire amount within the promotional period, interest
will usually be charged on the original credit amount or the unpaid
part of that amount from the date of purchase.
In December 2018, the FCA consulted in CP18/43 on a package of
remedies relating to BNPL offers, including:
