Buy now, pay later schemes: How to avoid exceeding your budget and falling into debt

Banks work with retailers to offer 0 per cent instalment plans, usually for big-ticket items like electronics and furniture. PHOTO: ST FILE
New: Gift this subscriber-only story to your friends and family

SINGAPORE - A code of conduct for buy now, pay later (BNPL) providers will be released by the end of 2022.

It is a timely move as BNPL gains traction and concerns over consumer indebtedness rise.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.