The Bank of Italy has issued a communication on 'Buy Now Pay Later' schemes (BNPL).
This is a form of credit whereby consumers can purchase goods or services and pay for them later, also in instalments.
This form of credit is not specifically regulated and therefore the applicable regulatory framework and associated protections depend on the specific design of the operation. The communication draws consumers' attention to potential risks and to the safeguards provided by the regulatory framework protecting bank customers.
