Protecting & Empowering Consumers of BNPL Products - Best Practices from a Credit Referencing Perspective

This paper made by ACCIS delves into the dynamic landscape of Buy Now, Pay Later (BNPL) services in Europe and their interaction with the European credit referencing industry, aiming to ensure comprehensive consumer credit protection. It explores the definition and characteristics of BNPL products, the growth of the BNPL industry in Europe, the introduction of new consumer credit regulations, and the pivotal role of credit referencing in safeguarding and empowering consumers using BNPL products.

Furthermore, the paper outlines a set of best practices that credit reference agencies (CRAs) aim to contribute, fostering a sustainable and well-informed landscape for BNPL and credit referencing activities. These practices are designed to protect and empower consumers and provide guidance to the European regulatory community.

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