PayPal announces support to buy-now-pay-later regulation in Australia
Prykhodov         

As per its recent submission to the Australian government, PayPal (NASDAQ:PYPL) wants buy-now-pay-later (BNPL) loans to be subjected to consumer protection law for ensuring consumer and industry certainty and competitive neutrality.
Other companies which sell BNPL loans indicated in submissions that they support minimal or self-regulation.
The submission said it supported mandatory credit licences for BNPL providers and rules requiring the companies to check a user's suitability for a loan above an "appropriate threshold".
The Australian government has said it wants BNPL regulation in place in 2023, as cited by Reuters.