Regulating Buy Now, Pay Later in Australia

17 days left to have your say
Consultation Type
Options Paper

Key Documents

The Government is seeking feedback on the future regulatory framework for buy now, pay later (BNPL) arrangements under the National Consumer Credit Protection Act 2009 (the Credit Act).

BNPL products are not regulated under the Credit Act because they fall under the exemptions available to certain types of credit in Schedule 1 to the Credit Act (the National Credit Code). BNPL products are not subject to responsible lending standards or other requirements of the Credit Act, and BNPL providers do not need to hold an Australian Credit Licence (ACL).

This unintended regulatory gap creates the potential for consumer harm due to the absence of key protections available to other products regulated by the Credit Act.

The options paper Regulating Buy Now, Pay Later in Australia is seeking views on three broad options that aim to provide a regulatory foundation for the future growth of BNPL in Australia. These options aim to ensure new and emerging credit products such as BNPL are subject to appropriate regulation that balances consumer protection while still encouraging innovation in our financial service industry.

Feedback from stakeholders on the options paper will inform a government decision on the future regulation of BNPL in Australia.


You can submit responses to this consultation up until 23 December 2022. Interested parties are invited to comment on this consultation.

While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.

Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

View our submission guidelines for further information.

How To Respond



Address written submissions to:

Consumer Credit Unit
Financial System Division
Langton Cres
Parkes ACT 2600