BNPL providers — credit licensing from 10 June 2025
BNPL captured by the NCCP Act as a regulated credit product from 10 June 2025.
Who must comply
BNPL providers operating in Australia.
What triggers it
Providing BNPL services.
When due
ACL in place by 10 June 2025; ongoing compliance.
Evidence required
ACL, modified responsible lending procedures, hardship procedures, AFCA membership.
Max penalty
Civil penalties up to $15.65M / 3× benefit / 10% turnover; unlicensed conduct also criminal
Effective from
10 June 2025
Summary
The Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 brings Buy Now Pay Later within the NCCP Act as 'Low Cost Credit Contracts' from 10 June 2025. BNPL providers need an ACL and must apply modified responsible lending obligations.
Enforced by
Source legislation
Industries
Topics
Source: https://treasury.gov.au/consultation/c2023-431524. Rules Mate is not a law firm. Always verify against the live regulator source before acting.