The loans are used by millions but ministers want checks on affordability and clearer advertising.
Advertisements must be fair, clear and not misleading.Borrowers will be be able to take complaints about BNPL schemes to the Financial Ombudsman Service.
In a statement accompanying the proposals, Economic Secretary to the Treasury, John Glen said: "We are protecting consumers and fostering the safe growth of this innovative market in the UK." Alex Marsh, Head of Klarna UK, said he welcomed the new rules - telling the BBC the company already checked customers could afford to pay - and called for them to be brought in sooner.
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