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New rules on the way for buy now, pay later deals
The Sentinel
|June 02, 2025
The government has been giving a real dusting down of its 'to do' list recently. And I'm pleased to say it's finally got round to dealing with one of the most popular - and unregulated - areas of lending: buy now, pay later (BNPL) credit.
It's estimated that around 11 million people used BNPL last year alone for short-term borrowing. Many readers love this way of paying for goods and let me know they are unhappy with me when I criticise it.
However, I'm not here to be popular (I am a little bit) - so buyer beware! The new rules don't kick in till next year, so for now, watch out when you borrow, or you could end up with a huge debt you can't deal with. Here's my guide to how BNPL works.
What is buy now, pay later credit?
BNPL works by giving you a short-term loan, with or without interest, so you can buy goods or services even if you can't afford to pay the full price up front.
Retailers have been pushing BNPL credit and you'll be hard pressed to find one that doesn't offer it when you shop online.
There are three main types of BNPL credit:
Try before you buy
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