MILLIONS of buy now, pay later customers are set to see a huge change that could impact their finances. Shoppers using the buy now, pay later (BNPL) service Zilch will soon see their transactions l…
said: "For those who fail to make repayments on time it will have a negative impact on their score and ability to take out new finance in the future, so BNPL finance should not be taken lightly but should be viewed as just as important of making credit card and loan repayments on time."
, said lenders can now see how many buy now, pay later accounts somebody has, and how they manage their payments.The Financial Conduct Authority does not currently have any rules that force BNPL firms to share customer purchases with credit reference agencies.
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