If you went over, however, you could pay 40% interest plus on the original cost of the item. The old style of BNPL is usually provided by retailers who are regulated to sell credit or contract out the credit services under their own brand. Just to give you an idea of how popular BNPL credit is, Resolver has received 15,814 complaints in less than two years! In just a short time, millions of people have signed up to these new payment deals. I also have concerns that this form of credit is unregulated in part and is sold as a ‘lifestyle’ choice.

Source: Daily Mirror September 06, 2020 06:00 UTC