Advertising watchdog cracks down on buy now, pay later

Industry News | 11/12/20

New guidelines to tighten up advertising ‘buy now, pay later’ services like Klarna have been welcomed by campaigners – but they called for tougher rules to stop more consumers falling into debt.

Delayed payment providers have been asked to revamp their marketing by next March to ensure users are not being misled and were aware they were signing up for credit, following rules published last week by the Advertising Standards Authority.

The eight pages of guidance warned the likes of Clearpay, Klarna, Laybuy and PayPal against claiming their products never hit users’ credit ratings unless they could prove it never happened.

Source: ThisIsMoney