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BNPLs will come under the the Financial Conduct Authority's regulation from July 15.
The Financial Conduct Authority will begin regulating BNPL products in the UK from July 15, 2026.
KEY POINTS
- BNPL firms must be FCA-authorised and follow Consumer Duty, ensuring clearer information and consumer-centered practices.
- Consumers will gain access to the Financial Ombudsman Service for BNPL-related complaints after regulation begins.
- Lenders are now required to conduct proportionate affordability checks before offering BNPL products to consumers.
- BNPL firms must provide support to customers in financial difficulty and direct them to free debt advice.
COMPANIES
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