How Regulation Will Level the BNPL Playing Field in 2022

March 20, 2022

Banks & Lenders

Financial Services

While Buy now, pay later (BNPL) services give customers access to flexible payments, unregulated services can lead to irresponsible lending and strain on consumers’ financial health.

According to a Credit Karma study, 72% of consumers in the US ended up with lower credit scores after using unregulated BNPL services.

The right set of regulations can solve this problem and provide ample opportunity for banks to become BNPL market leaders.

With the Consumer Financial Protection Bureau (CFPB) in the US, and other regulatory bodies in other countries, starting to probe BNPL providers, it seems that regulation is heading our way in 2022.

What will the upcoming BNPL regulation look like?

How will regulation impact the BNPL industry and its players?

Read the full TechCrunch article to find out.

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