# 14 million people, 27% of UK adults, used Buy Now Pay Later to purchase something.

*fintech · news · 2023-10-31 · Sky News*

## Key points

- BNPL use among UK adults rose from 17% to 27% within eight months, per FCA data.
- Frequent BNPL users are twice as likely to have high-cost credit compared to non-users.
- FCA found 27% of BNPL adopters missed bill payments in three of six months, versus 6% non-users.
- PayPal and QVC revised contract terms after FCA concerns about unclear conditions in their BNPL offerings.
- The FCA recommends unregulated BNPL products be brought under its regulatory authority.

**Companies:** PayPal, Klarna
**Countries:** United Kingdom

[Read the full story on Sky News](https://news.sky.com/story/fourteen-million-uk-adults-used-buy-now-pay-later-in-six-months-the-fca-says-12996856)

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