Regulating Buy Now, Pay Later in Australia

This consultation process has now been completed. Submissions available
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.


78 submissions were received for this consultation, including 16 confidential submissions.

Afterpay - pdf 400.92 KB
ANZ - pdf 76.71 KB
Brighte - pdf 627.42 KB
Centrix - pdf 421.33 KB
CPA Australia - pdf 447.27 KB
Deferit - pdf 430.58 KB
Ebay - pdf 114.47 KB
Equifax - pdf 718.07 KB
FinTech Australia - pdf 168.87 KB
Good Shepherd - pdf 132.49 KB
Halverson, Grant - pdf 1.09 MB
Illion - pdf 177.63 KB
Kadre - pdf 1.82 MB
Law Council of Australia - pdf 796.71 KB
Law Society of NSW - pdf 262.75 KB
LayBuy - pdf 355.09 KB
McCann, Stephanie - pdf 75.59 KB
Min-It Software - pdf 327.34 KB
NAB - pdf 203.95 KB
National Legal Aid - pdf 387.47 KB
Nudge - pdf 148.31 KB
PayPal - pdf 304.5 KB
Salvation Army - pdf 5.39 MB
Uniting Care - pdf 585.93 KB
WayForward - pdf 839.23 KB
Wesley Mission - pdf 169.5 KB
Westpac - pdf 142.47 KB
ZIP - pdf 155.56 KB