Buy now pay later industry could face new regulations to stop financial harm

The booming buy-now-pay-later sector is facing even more pressure as the Albanese government pushes ahead with plans to fully regulate products like Afterpay and Zip.

Consumer groups have been calling for tougher measures to crack down on the sector so buy-now-pay-later products are treated like credit cards and debt products - rather than as a budgeting tool.

I speak with one of the major players in BNPL - Zip co founder Peter Gray