MAS reviewing 'buy now, pay later' schemes

The review will weigh the benefits that new payment models can bring to consumers and businesses.
The review will weigh the benefits that new payment models can bring to consumers and businesses.PHOTO: ST FILE

A review is under way to see if it is necessary to ring-fence consumers from overspending on "buy now, pay later" (BNPL) schemes.

BNPL schemes have gained prominence over the past year in Singapore and other countries because they cover many products in the online shopping sphere, including clothes and fashion accessories, that appeal to young consumers.

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