All providers must now hold an Australian Credit Licence (ACL).
AI responses may include mistakes. For financial advice, consult a professional. Learn more Does Buy Now Pay Later Affect Your Credit Score? - Equifax
Buy Now Pay Later (BNPL) has transformed from a niche fintech experiment into a cornerstone of Australian retail. As of early 2026, the market is projected to reach approximately , despite facing the most significant regulatory shake-up in its history. The Big Shift: Regulation is Here buy now pay later australia
Until recently, BNPL operated in a "regulatory gray area". However, starting , providers must comply with the National Consumer Credit Protection Act . This means:
Users now have access to the Australian Financial Complaints Authority (AFCA) for independent mediation. Market Landscape and Key Players All providers must now hold an Australian Credit
Australia's second-largest platform, offering Zip Pay for smaller amounts and Zip Money for larger purchases up to $5,000.
The Australian BNPL market is no longer the "wild west." With new protections in place and banks entering the fray, it has become a standard financial tool rather than just a shopping trend. Learn more Does Buy Now Pay Later Affect Your Credit Score
Companies must perform "unsuitability assessments" before approving users or increasing limits.