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UK tells BNPL providers to spell out the bad stuff

Reuters 02/14/2022

Britain’s Financial Conduct Authority is telling buy now pay later firms that they need to disclose “potential harms” that consumers may face if they use this form of product payment. “The four firms involved, Clearpay, Klarna, Laybuy and Openpay, have fully cooperated with our work. We welcome their cooperation and their actions to address our concerns,” the FCA said in a statement.

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