A spokesman for the UK Treasury said the new Labor government would present its new plans soon. CNBC.
“Regulating Buy Now, Pay Later is critical to protecting people and providing security for the sector,” the spokesperson said in an email to the news channel.
“fundamental difference”
Reports say Klarna is also in the sights of US authorities Today's B.S. There, watchdogs are gearing up to introduce new rules for the installment sector.
According to them New rules In AmericaEffective next week, credit card issuers are classified as “buy now, pay later companies.” These companies must provide the same legal protections and rights that conventional credit cards offer, ie Loan terms and offer consumers a cooling off period and option for returns.
The Swedish payments giant has reacted strongly to the CFPB's (US Consumer Bureau) new rules.
“It's surprising that the CFPB doesn't recognize the fundamental difference between 'buy now, pay later' and credit cards,” The company comments Conclusion
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