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Buy Now, Pay Later: BNPL Fraud and Regulatory Update. Buy now, pay later or BNPL financing is experiencing tremendous growth, but that growth can bring potential growing pains like fraud and regulatory scrutiny. Even more dramatic, PayPal, a relatively late arrival to the party, saw its BNPL volumes soar 226% year over year.
Open banking, BNPL, cybersecurity and AI will all be under the microscope for regulators and policymakers, but not all areas will see major action in 2023. There Will be Changes in the BNPL Market, but Major Regulatory Action Is at Least a Year Away. Four 2023 U.S. Policy Predictions for Financial Services Companies. FICO Admin.
Key developments include progress on stablecoin regulation with draft legislation anticipated, advancements in open banking and variable recurring payments (VRPs), outcomes from the PSR's review on card fees, and the introduction of buy now pay later (BNPL) legislation in Parliament.
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