PS26/1: Regulation of Deferred Payment Credit (unregulated Buy Now Pay Later)

The UK Prudential Regulation Authority and Financial Conduct Authority issued Policy Statement PS26/1 to regulate deferred payment credit products, specifically targeting unregulated Buy Now Pay Later services. This policy establishes a new regulatory framework to ensure consumer protection and market integrity within the deferred payment credit sector. The document outlines the final rules and guidance effective from the publication date of 11 February 2026.

United Kingdom

Financial Conduct Authority

Consultation published

18/07/2025

Consultation closed

26/09/2025

Policy Statement published

11/02/2026