I have used BNPL a fair bit for large purchases, like washing machine dying unexpectedly, or just to spread the cost of a large purchases over a few months at 0% rather than use a credit card. They had previously been in a bit of a black hole in terms of financial regulations, but this has now been addressed with new regulations to better protect consumers against unscrupulous lenders. One of the benefits brought in is that it's now being properly treated as credit, and therefore brings section 75 of the consumer credit act into play. This gives you added protection should a purchase go awry, making the lender equally responsible for refunds if the retailer or manufacturer deny a dispute claim. For the purposes of the tape; this is FYI only and not financial advice in support of BNPL.
I enjoyed the sound byte from 'non profit group' Fair4AllFinance (who totally aren't a front for JP Morgan, like, seriously guys they're not) claiming this will lead to mass use of loan sharks (other than them). Good news.
