Citizens Advice responds to the Treasury announcement on BNPL
Dame Clare Moriarty, Chief Executive of Citizens Advice, said:
“The Buy Now Pay Later sector continues to grow at a meteoric rate, but it could now remain unregulated for years.
“Every day spent waiting for regulation is yet another day that shoppers are left unprotected and ill informed. We’ve seen a shopper threatened with debt collectors after splitting the payment of a t-shirt and, more recently, a worrying two in five BNPL customers borrowing money to make repayments.
“The government’s proposed rules will provide vital protection to many, but it must turbo-charge these plans.”
Notes to editors
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Citizens Advice is made up of the national charity Citizens Advice; the network of independent local Citizens Advice charities across England and Wales; the Citizens Advice consumer service; and the Witness Service.
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Our network of charities offers impartial advice online, over the phone, and in person, for free.
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We helped 2.4 million people face to face, over the phone, by email and webchat in 2020-21. And we had 40 million visits to our website. For full service statistics see our monthly publication Advice trends.
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Citizens Advice service staff are supported by more than 21,000 trained volunteers, working at over 2,600 service outlets across England and Wales.
- You can get consumer advice from the Citizens Advice consumer service on 0808 223 1133 or 0808 223 1144 for Welsh language speakers.