BNPL licensing in force 10 June 2025
In plain English
ASIC’s BNPL licensing regime comes into force on 10 June 2025, requiring providers to hold an Australian credit licence.
The Australian Securities and Investments Commission (ASIC) is implementing a new licensing regime for Buy Now Pay Later (BNPL) providers. This regulatory implementation takes effect on 10 June 2025. BNPL providers must now hold an Australian credit licence. This change aims to bring BNPL services under the existing regulatory framework for credit.
Why it matters
If your business offers BNPL services, you must now hold an Australian credit licence. Understand your obligations and ensure compliance to avoid potential regulatory action. This impacts consumer protection and responsible lending practices.
AI-assisted summary, grounded in the source link below. Generated 2026-05-23 via gemma3:12b.
Facts
BNPL captured by NCCP from 10 June 2025 as Low Cost Credit Contracts; transition period for existing providers.
Outcome
Providers obtaining ACL; AFCA membership; modified responsible lending.
Read the source
https://asic.gov.au/regulatory-resources/financial-services/credit/buy-now-pay-later-bnpl/Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.