Parliament committee summons 'Buy Now Pay Later' firms after exploitation complaints
Originally published by Citizen Digital — Read the original article →
The National Assembly committee on Finance and National Planning is set to meet with Buy Now Pay Later (BNPL) firms as it commences a review of the regulatory framework and consumer protection safeguards within the sector.
The Committee, whose mandate cuts across key functions including public finance, monetary policy, financial institutions, and market competition, has expressed deep concern over reports of exploitation characterizing the sector.
During a Committee meeting today, Chairperson Kuria Kimani cautioned BNPL firms’ management that the Committee would not hesitate to invoke the provisions of Standing Order 191 if any invited BNPL entity fails to appear.
