Buy now, pay later to be regulated in the UK
Following a government review, the U.K.’s financial services regulator will be instructed to regulate the buy now, pay later industry made popular by companies such as Klarna, and AfterPay (known as Clearpay in the U.K.).
A further consultation with the industry is underway and then, when parliamentary time allows, new laws regulating buy now, pay later will be passed.
