Buy Now Pay Later: Legal Changes You Should Know (Australia)
Buy Now Pay Later: Legal Changes You Should Know (Australia 2025) Buy Now Pay Later (BNPL) services have become a popular way for Australians to make purchases and pay for them over time. However, with the rapid growth of BNPL, many consumers have found themselves struggling with managing payments and accumulating debt. In 2025, significant legal changes are being introduced to regulate BNPL services and protect consumers. This article will outline what you need to know about these changes and how they affect you. What Is Buy Now Pay Later? Buy Now Pay Later (BNPL) is a payment method that allows consumers to purchase items and pay for them in instalments, often without any interest if paid within the agreed period. BNPL services like Afterpay, ZipPay, and Klarna have seen a sharp rise in popularity over the last few years, especially for online shopping. Why Are Legal Changes Necessary? While BNPL services offer a convenient way to buy items, they have also raised concerns reg...