What happened?
TCC Group’s CEO Joe Norburn was featured in Accountancy Daily to discuss the introduction of tighter rules for Buy Now, Pay Later (BNPL) loans and what they mean for firms and consumers.
The article highlights how the FCA is bringing the previously unregulated BNPL market – valued at around £13bn – under its supervision, responding to growing concerns around consumer protection and rising usage of the product.
Why does it matter?
Buy Now Pay Later has grown into a £13bn market largely outside formal regulation, leaving gaps in how affordability is assessed and how clearly costs and risks are disclosed to consumers.
Bringing BNPL within the FCA’s remit signals that firms offering this form of credit will need to meet the same standards of transparency and responsible lending expected elsewhere in consumer credit.
Supporting sources
Frequently asked questions
What is changing for Buy Now Pay Later loans?
The FCA is bringing the BNPL market under formal regulation, introducing requirements around disclosure, affordability checks and consumer protection that previously did not apply.
How big is the BNPL market affected by these changes?
The article puts the BNPL market at around £13bn, a sector that has until now operated largely outside FCA oversight.
Why is the FCA acting now?
The regulator is responding to rising usage of BNPL products alongside growing concerns about consumer protection.
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- Lending & Consumer CreditTCC helps consumer credit firms evidence good outcomes, strengthen affordability and vulnerability frameworks, and manage complaints, remediation and regulatory risk. We support lenders with practical, regulator-ready compliance programmes that improve governance, customer treatment and operational resilience.
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