Government to clamp down on ‘buy now pay later’ services such as Klarna and Clearpay

Banks including Klarna and Clearpay providing ‘buy now pay later’ services will face fresh regulation by the Financial Conduct Authority (FCA) after years of wrangling and delays.  New rules will require financial services providers to conduct affordability checks as part of efforts to make banking standards more consistent.  Borrowers will also be able to make [...]