NZ Regulation of BNPL
On 10 March 2023, AFIA made a submission on Buy Now, Pater Later (BNPL) regulation in New Zealand to the Ministry of Business, Innovation and Employment (MBIE).
In this submission, we reiterated positions we have put forward in the Australian context, regarding the importance of BNPL to the economy and financial inclusion.
AFIA noted BNPL provided US$1.9 billion to the New Zealand economy in 2021-22. This number is expected to grow to US$8.2 billion by 2028.
It is essential BNPL regulations are targeted, proportionate and scalable, to foster continued competition and innovation.