Some consumers are using buy now, pay later for essential expenses like groceries, rent and utility bills. But more BNPL users have recently had a late payment.

Some consumers are using buy now, pay later for essential expenses like groceries, rent and utility bills. But more BNPL users have recently had a late payment.

Buy now, pay later allows people to spread the cost of purchases, normally interest-free, over a set period of time

Treasury says shoppers will get a ‘fairer deal’ as new rules for BNPL credit are introduced on Wednesday