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Совет по кодификации не поддержал законопроект о BNPL

Council on codification has not supported the bill on BNPL

What is the BNPL

BNPL (Buy Now, Pay Later) is an alternative payment method that allows consumers to make purchases and pay for them in installments over a period of time.

The BNPL industry has grown rapidly in recent years, as it offers a number of benefits to consumers, such as convenience, affordability, and flexibility.

What is the bill on BNPL

The bill on BNPL was introduced in the State Duma in April 2023.

The bill would have regulated the BNPL industry by setting limits on the amount of money that consumers can borrow, the length of time that they can take to repay their loans, and the interest rates that can be charged.

Why did the Council of codification not support the bill on BNPL

The Council of codification did not support the bill on BNPL because it believed that the bill was too restrictive and would have stifled the growth of the BNPL industry.

The Council also believed that the bill would have been difficult to enforce and would have created a number of unintended consequences.

What's next

The bill on BNPL is still under consideration by the State Duma, but it is unlikely to be passed in its current form.

The Council of codification's decision not to support the bill is a setback for the BNPL industry, but it is not clear what the long-term impact of this decision will be.