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The UK government has proposed imposing new regulations of buy now, pay later lenders

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BANG Showbiz English

The UK government has proposed imposing new regulations of buy now, pay later lenders. This comes after tech giant Apple announced their plans to launch their own service – which is similar to their competitors’ Klarna, Clearpay, PayPal and others – that allows borrowers to repay their loans in instalments, typically over three months. John Glen, Economic Secretary to the Treasury said: “Buy-Now Pay-Later can be a helpful way to manage your finances but we need to ensure that people can embrace new products and services with the appropriate protections in place. “By holding Buy-Now Pay-Later t…

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