INTEREST-free buy-now-pay-later credit agreements will be regulated by the Financial Conduct Authority under plans announced yesterday.
A recent review of unsecured credit has recommended bringing the agreements under the watchdog's supervision after the pandemic saw the products triple in popularity.
The Government believes the agreements need to have the "right protections".
John Glen, economic secretary to the treasury, said: "By stepping in and regulating, we’re making sure people are treated fairly and only offered agreements they can afford – the same protections you’d expect with other loans."