Low Cost and Buy Now Pay Later Credit Contracts
Course Details
Description
In response to the evolving credit landscape and increasing use of Buy Now Pay Later (BNPL) products, this course offers an in-depth exploration of ASIC’s new Regulatory Guide 281 (RG 281), released on 8 May 2025. This guide clarifies how the Australian credit licensing regime applies to low cost credit contracts, a category that includes many BNPL offerings, and introduces modified responsible lending obligations under the National Consumer Credit Protection Act 2009.
This course is designed to equip credit providers, compliance professionals, and legal advisers with a strong understanding of the legal framework, compliance expectations, and operational responsibilities involved in offering low cost credit. Whether you are an Australian Credit Licensee or a Buy Now Pay Later provider looking to operate within the law and under ASIC’s expectations, this course will help you understand what it means to be fully compliant from 10 June 2025 onward, when the new regime comes into effect.
You will explore:
- What defines a low cost credit contract and how it differs from traditional credit products.
- Why ASIC created modified obligations for these contracts and what they entail.
- How to elect to comply with the modified obligations—and when and how that election can be revoked.
- ASIC’s expectations for responsible lending, disclosure, and credit assessment in the context of low cost credit.
- The key operational changes that may be necessary in your business processes, documentation, and systems.
Delivered fully online and at your own pace, this course helps you not only understand the regulation, but also prepare your business for compliance, risk management, and ongoing reporting under the new credit regime.
Whether you’re onboarding new team members, updating compliance frameworks, or enhancing your own professional knowledge, this course is an essential resource for staying ahead of legal obligations and consumer protection standards in the Australian credit market.
Who should enrol?
- Australian Credit Licensees: Especially those providing low cost credit contracts, including buy now pay later services.
- Compliance Officers & Legal Advisors: Professionals seeking to ensure adherence to the latest ASIC guidelines.
- Financial Services Professionals: Individuals aiming to deepen their understanding of the National Credit Act and its application to low cost credit contracts.
Estimated Time To Complete
Learning Outcomes
By the end of this course, you will be able to
