Belgian Minister of Consumer Affairs Rob Beenders is enforcing stricter rules for “buy now, pay later” (BNPL) services such as Klarna. The federal government has approved a bill that explicitly excludes minors and imposes heavy fines on those who ignore the rules.
Only for adults
BNPL services offer consumers the option to pay for online purchases later and in installments. Young people in particular are eager to use them, but the risks are mounting. According to figures from the FPS Economy, “last year, 17% of people who took out a loan came into contact with a debt collection agency, 29% of whom were under the age of 24,” says Beenders.
