BNPL
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“ Consumers need to proactively manage these debts to avoid the additional fees associated with late repayments ,” she says . “ Objectively , this hasn ’ t always been communicated clearly by the industry .
“ As there is a delay in payments being received by businesses , merchants accepting BNPL require effective cash flow forecasting and management , particularly if they become reliant on BNPL for their business revenue .”
High time for regulation These aforementioned pros and cons of BNPL technology raise inevitable questions about regulation .
Tighter rules have been on the cards for a while , with regulatory bodies like the UK ’ s Financial Conduct Authority and the US ’ Consumer Financial Protection Bureau ( CFPB ) working alongside providers to promote a culture of transparency where consumer protection is prioritised .
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