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BNPL in Asia: Growth Needs Regulation
Buy Now, Pay Later (BNPL) services are growing fast in Asia. In Singapore, the market is expected to reach $2.9 billion by 2027. But many users are now facing problems like hidden fees, no credit checks, and growing personal debt.
Countries like Australia and Singapore are starting to regulate the industry. New rules ask BNPL companies to check if users can repay and to show clear payment terms and fees.
Without these protections, BNPL can create more financial harm than help. As the sector grows, smart regulation is key to protect consumers and build long-term trust.
Fintech should not only be fast — it must also be fair.
#BNPL #Fintech #AsiaFinance #Regulation #ConsumerProtection