Australia says it will introduce law to regulate buy-now-pay-later sector

Australia says it will introduce law to regulate buy-now-pay-later sector

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/File Photo

The Australian government said on Monday it would introduce laws that will consider buy-now-pay-later (BNPL) services as a credit product in a bid to protect consumers in a largely unregulated industry.