Update: domestic premises suppliers and Buy-Now, Pay-Later (BNPL)
Following industry and FCA engagement, the government decided to exempt domestic premises suppliers from requiring credit broking permissions to offer BNPL products as a payment options.
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This update follows on from the approach to domestic premises suppliers outlined in the government’s recent response to the consultation on regulating BNPL. The government has decided to lay a negative statutory instrument to exempt domestic premises suppliers from requiring credit broking permissions to offer BNPL products as a payment option.