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

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

Here is a look at how buy now, pay later works and what changes customers can expect to see.

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

It’s often argued that government regulation can hamper innovation, growth and competition. However, new regulations on Buy Now, Pay Later (BNPL), which come into force today,…