Buy Now Pay Later

On 15 July 2026, new regulations for buy now pay later (BNPL) credit came into effect in the UK, bringing these products under the oversight of the Financial Conduct Authority (FCA). The rules require lenders to carry out affordability checks before offering BNPL, provide clearer upfront information about payment terms and consequences of missed payments, and offer support to customers in financial difficulty. Consumers also gain new rights, including the ability to complain to the Financial Ombudsman and, for purchases over £100, to seek a refund from the BNPL provider if goods are faulty. Both BBC One West and ITV1 reported that debt advice services have seen a rise in people seeking help after falling behind on BNPL payments, and included personal accounts of individuals who accumulated debt using these services. The changes are intended to reduce the risk of unmanageable debt, though they may also make it harder for some shoppers to access BNPL credit.

Key Claims by Channel

Claim
Reported by a few · 2 channels
New regulations for buy now pay later credit came into effect on 15 July 2026, bringing them under FCA regulation.	Not reported by Channel 5	Reported by BBC One	Reported by ITV
The regulations require affordability checks before offering BNPL credit.	Not reported by Channel 5	Reported by BBC One	Reported by ITV
Shoppers will receive clearer upfront details about payment terms and consequences of missed payments.	Not reported by Channel 5	Reported by BBC One	Reported by ITV
Debt advice services reported an increase in people seeking help due to BNPL debts, with one firm seeing over 4,000 clients in June 2026 and the proportion of clients with BNPL debt rising from 15% to 25% over two years.	Not reported by Channel 5		Reported by ITV
Personal stories of individuals affected by BNPL debt were featured, including Tim who lost his job and Paige Catlow, a young mother.	Not reported by Channel 5	Reported by BBC One	Reported by ITV
Only on one channel
Lenders must offer support to customers in financial difficulty and direct them to free debt advice.	Not reported by Channel 5	Reported by BBC One	Not reported by ITV
Consumers can now complain to the Financial Ombudsman about BNPL providers.	Not reported by Channel 5	Not reported by BBC One	Reported by ITV
For purchases over £100, consumers can get a refund from the BNPL provider if goods are faulty.	Not reported by Channel 5	Not reported by BBC One
Almost 11 million people used BNPL in the 12 months to May 2024, according to the finance regulator.	Not reported by Channel 5		Not reported by ITV
The BNPL market is worth an estimated £13 billion, led by providers Klarna, Clearpay, and PayPal.	Not reported by Channel 5		Not reported by ITV
ITV also listed Zilch as a major BNPL provider alongside Klarna, Clearpay, and PayPal.	Not reported by Channel 5	Not reported by BBC One	Reported by ITV
Some groups think up to 20% of BNPL applicants could be refused under the new rules.	Reported by Channel 5	Not reported by BBC One	Not reported by ITV

This is a cross-channel consensus summary, not an objective account. Consensus can be uniformly wrong, or omit what only one channel covered.