BNPL captured by NCCP (LCC)
critical priorityone offsmall, medium, large, listed
Due
10 June 2025
360 days ago — see source for next instance
What to file
BNPL becomes Low Cost Credit Contracts under NCCP from this date.
Who is affected
BNPL providers offering Low Cost Credit Contracts to consumers — including the major players (Afterpay, Zip, Klarna) and any new entrants.
Penalty if missed
Operating without a credit licence is a criminal offence under NCCP s 29 — up to 2 years' imprisonment and civil penalties up to the greater of $16.5M, 3× benefit or 10% of turnover.
Applies to
BNPL providers
Prep checklist
- Apply for or vary Australian Credit Licence to cover LCC
- Implement modified responsible-lending obligations
- Update product disclosure and customer onboarding
- Train collections on hardship obligations
- Maintain IDR + AFCA membership
On Rules Mate