On 2 February 2021, the government announced its intention to regulate interest-free Buy-Now Pay-Later (BNPL) products . They consulted on policy options back in October 2021, followed by a consultation response released in June 2022.
The government is now consulting on draft legislation to bring Buy-Now-Pay-Later products into regulation, the draft was released on 14 February 2023 and is open for consultation until 11:59pm on 11 April 2023.
Please follow the link here to the full consultation on draft legislation.