The BNPL market and the next steps for regulation with Manish Garg, Founder & CEO of Banksly

Senior Policy Manager Riccardo Tordera provides you with his January policy updates.

He is joined by Manish Garg, Founder & CEO of Banksly and newly appointed member of our Advisory Board, to discuss The Payments Association’s latest response to the HM Treasury consultation published last year, which recommends a proposal to urgently regulate the BNPL market.

Manish gives an overview of the problems surrounding BNPL and highlights that “at least 1 in 10 customers who have used BNPL were already in arrears when they took BNPL, so at the moment proper affordability isn’t being checked.”

You can read the full response here.