In the UK, Deferred Payment Credit (DPC), also known as Buy Now, Pay Later (BNPL), allows consumers to pay for goods and services with interest-free credit, which they pay back in instalments within a year of the purchase.
DPC is regulated by the FCA, so if your business is a DPC lender, or if you operate a DPC model involving a merchant and a third-party lender, you may need authorisation from the FCA to offer DPC to your customers.
Contact usOur dedicated DPC and BNPL authorisation service aims to support businesses that provide DPC and BNPL for their customers.
In order to get DPC authorisation, you need to apply to the FCA. In the application, you will need to demonstrate that your business is not only capable of meeting its regulatory obligations around DPC, but also able to maintain compliance going forward once DPC authorisation is granted.
A member of our team will assess your business model and determine whether you require DPC authorisation.
From there, we will help you produce a strong application to the FCA, ensuring it is in line with FCA expectations. We will also help you respond to any follow-up questions and requests from the FCA.
Our consultants are former FCA employees, so they understand what makes a good-quality FCA consumer credit authorisation application.
You will always know how much you are paying and what you are paying for.
We have helped hundreds of businesses across the UK get consumer credit authorisation.
Yes, they are essentially the same thing but represent different perspectives. DPC is the official term used by the FCA. BNPL is the everyday term that shoppers and retailers are familiar with.
Once you have submitted your application to the FCA, it can take anywhere between 3 and 10 months for it to be processed.
This is something you need to consider, but our initial consultation will help you answer this question. We will give you our expert opinion so you can make an informed decision.
FCA regulation and compliance can be complex, but we will help you navigate the process, allowing you to expand your business and create new revenue streams.
Contact us to talk to our friendly team about your requirements.