Credit, Collections & Insolvency News
The Buy Now, Pay Later (BNPL) sector will come under the regulation of the Financial Conduct Authority (FCA) from today (Wednesday 15th July), seeing the launch of stronger protections in place for consumers. New YouGov polling commissioned by StepChange reveals the increasing popularity of BNPL products, but raises the concern that many are using it…
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New research from Compare the Market suggests that fear of being turned down for credit is preventing millions of people from applying for financial products altogether, as new Buy Now Pay Later (BNPL) affordability checks are introduced across the UK. BNPL providers will be required to carry out affordability and creditworthiness checks before approving credit,…
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New analysis from debt advice provider PayPlan, has revealed that Buy Now Pay Later (BNPL) usage among its customers across the UK has increased by 3,793% between 2020 and 2025, highlighting the growing role the credit product is playing in household finances. The findings reveal a significant awareness gap when it comes to the new…
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The era of near-invisible checkout credit is set for a major reset, as previously unregulated Buy Now Pay Later (BNPL) products come under the Financial Conduct Authority’s oversight. The new rules will apply to Deferred Payment Credit agreements, meaning lenders will need to carry out affordability checks, provide clearer information on repayment terms and fees,…
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With just three months until new buy now pay later (BNPL) regulations come into force on 15th July 2026, RSM UK warns firms need to ensure they are fully prepared for the changes now, or face no longer being authorised to provide credit to consumers. Zoe Morton, Consulting Director at RSM UK said “Firms providing…
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A study by the University of Bristol’s Personal Finance Research Centre and Aberdeen Group Charitable has shown a sharp increase in those aged 40-59 using Buy-Now-Pay-Later loans (BNPL). These loans are currently accessed by 18% of households (up from 15% in May 2025), and while BNPL use is highest among younger households, growth has been…
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The Financial Conduct Authority (FCA) has outlined new measures for Buy Now, Pay Later (BNPL) lending, which will aim to simplify information for borrowers whilst ensuring income checks and support for those in financial difficulty. Lenders must now be authorised and comply with the FCA’s Consumer Duty, ensuring clearer information on agreements and affordability checks.…
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A new report from Lloyds Merchant Services has found that consumers are increasingly looking for payment flexibility. 61% of adopters say they are more likely to shop with a retailer offering Buy Now Pay Later (BNPL), rising to 63% for point-of-sale (POS) finance. Half (50%) are comfortable using BNPL for mid-ticket purchases between £100 and…
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New research by Mojo Mortgages has found that 89% of the top 100 most trending Christmas presents can be purchased through Buy Now Pay Later (BNPL) methods. The research also showed that 75% of these products promote BNPL options on their product pages, enticing consumers to make purchases they might not have planned for or…
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New research from credit reference agency Equifax has revealed that the number of consumers using Buy Now, Pay Later (BNPL) could have peaked, but average spending continues to grow and will be key for many this Christmas. Four in ten (38%) consumers now indicate they have made use of BNPL, down from almost half (48%)…
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Shoppers who use Buy Now, Pay Later (BNPL) loans are to get new safeguards against unaffordable borrowing and credit card-style protection for their purchases, under rules outlined by the Government. Buy-Now, Pay-Later products have become increasingly popular in recent years as they allow people to spread the cost of purchases over time, but users currently…
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An organisation providing free debt help has warned it is seeing a concerning change in how buy now, pay later (BNPL) is being used. Money Wellness says it has seen a threefold increase in the number of people seeking debt help with BNPL debts over the past 12 months. But the most significant change is…
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New research by CreditSpring has found that 6.7 million young people (aged 18-34) across the UK don’t know that using buy now, pay later (BNPL) can lead to debt. The research showed that mearly half (46%) of young people remain unaware BNPL can lead to debt, much higher than the 35% UK average. BNPL is…
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