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Showing 1 - 7 of 7 results for "BNPL"

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... quarter. Credit card complaints rose 15% year on year and more than doubled at 34% quarter on quarter. Buy now pay later (BNPL) complaints were up 57% annually and jumped 56% the June quarter. Personal transaction accounts had the lion's share of ...

Jones lifts adviser levy freeze, updates funding model

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... population or over time to recognise the wider benefits of those activities. For example, crypto assets and buy now pay later (BNPL) do not sit within the existing system of licensing, registration, and supervision - and therefore, do not form part of ...

BNPL to be regulated under Credit Act

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
The government has handed down its plan to regulate buy now, pay later (BNPL) providers and products under the Credit Act to strengthen consumer outcomes. Historically, BNPL schemes have been exempt from tough regulation as they do not charge interest ...

New rules on the way for BNPL sector

JAMIE WILLIAMSON  |  TUESDAY, 22 NOV 2022
... releasing an options paper for consultation. According to minister for financial services Stephen Jones, the number of active BNPL accounts grew from five million to seven million last financial year. The bulk of these are held by people aged 18-34. ...

VC sector risks running cold

CHLOE WALKER  |  FRIDAY, 23 SEP 2022
... Canva have seen their valuations shaved as a result of ongoing uncertainty, while others also feel the pinch; solar power BNPL player Brighte was forced to make significant cuts to staff to "accelerate the pathway to profitability." Former professional ...

Global alliance calls for BNPL regulations

CHLOE WALKER  |  THURSDAY, 17 MAR 2022
... taking out an additional loan or foregoing household essentials. The research also shows that 30% of Australians have used a BNPL service in the last 12 months, and that 21% of those users have used the service to pay for basics such as food or utilities. ...

Afterpay reveals US plans, economic impact

JAMIE WILLIAMSON  |  WEDNESDAY, 21 APR 2021
With consumers in the US now contributing the most to Afterpay's business, the BNPL provider has set in motion plans to list there as new research shows the economic impact of the service. Revealed in a quarterly update yesterday, Afterpay is working ...
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