New regulations will soon treat buy now, pay later services like credit cards. This aims to protect consumers but raises industry debates. Some companies welcome it, others warn it could stifle their unique benefits. As the market surges, oversight remains complex. The rule, effective in two months, is a first step in broader regulatory efforts. However, experts argue it doesn’t address deeper issues of debt accumulation. Financial professor Cliff Rossi views the move as both a warning and a minor victory for regulators. Companies like Affirm support the consistency, while Klarna highlights fundamental differences with credit cards. The BNPL market is projected to skyrocket, but tracking debt remains a challenge. The new rule focuses on dispute resolution, leaving larger debt concerns unaddressed.
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