Australia said it would regulate buy-now-pay-later services as a consumer credit product under new laws, forcing BNPL providers to carry out background checks before lending in what would be one of the world's toughest regimes for the startup sector.
The move would put companies like Afterpay, owned by Jack Dorsey's Block Inc (SQ.N), and Zip Co under the watch of the…
This story from reuters.com was posted on 2023-05-22 by @riverfl.