Australia's BNPL sector may soon come under consumer credit regulation

Australia's BNPL sector may soon come under consumer credit regulation

FILE PHOTO: A logo for the companies Afterpay and Zip is seen in a store window in Sydney, Australia, July 9, 2020. REUTERS/Stephen Coates

When Melbourne barista Melinda Elliott had to cut back on casual work shifts this year, she asked her buy-now, pay-later (BNPL) provider, Afterpay, to lower her credit limit. She did not want debt she could not afford to repay.