All providers must now hold an Australian Credit Licence (ACL).
Buy Now Pay Later (BNPL) has transformed from a niche fintech experiment into a cornerstone of Australian retail. As of early 2026, the market is projected to reach approximately , despite facing the most significant regulatory shake-up in its history. The Big Shift: Regulation is Here buy now pay later australia
Companies must perform "unsuitability assessments" before approving users or increasing limits. All providers must now hold an Australian Credit
Commonwealth Bank's StepPay and NAB's Now Pay Later are gaining ground by offering similar 4-installment structures with the added security of established banking infrastructure. The Big Shift: Regulation is Here Companies must
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Beyond fashion and electronics, BNPL is expanding rapidly into healthcare and wellness , which is projected to see a 19.4% annual growth rate through 2031.