Compliance week: U.K. ‘buy now pay later’ regulation signals end of ‘Wild West’ fintech loans system

From 15 July, buy now, pay later providers will fall fully within the UK regulatory perimeter, bringing affordability checks, clearer disclosures and Consumer Duty obligations into focus.

In Ruth Prickett’s latest piece in Compliance Week TCC Group’s (TCC, Momenta and Recordsure), CEO Joe Norburn offers his thoughts on why this shift was always on the horizon and why stronger oversight should help address the risks created by frictionless borrowing, particularly for customers with lower financial resilience.