Which? responds as Buy Now, Pay Later rules take effect from 15 July

Rocio Concha, Director of Policy and Advocacy at Which?, said: 

“Which? campaigned for regulation of Buy Now Pay Later (BNPL) providers such as Klarna and Clearpay, so it's great news that this is finally happening and means users of these services will benefit from stronger safeguards.

“Key changes include access to the Financial Ombudsman Service if something goes wrong, as well as clearer information at checkout and affordability checks to help prevent people from taking on debt they can't afford.

“Before choosing BNPL, shoppers should consider whether they can comfortably afford the repayments and understand the consequences of missing them. Regulation should make those decisions easier by ensuring people have clearer information and stronger consumer rights.”