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VOL. 11, ISSUE 11 (2025)
Consumer protection in the age of fintech convergence: Lessons from buy now pay later regulation
Authors
Zahradeen A Ahmad, Aisha B Ahmad
Abstract
The rapid convergence of finance and
technology has redefined the global financial ecosystem, giving rise to
innovative credit models such as Buy Now, Pay Later (BNPL). While BNPL enhances
financial inclusion and consumer convenience, it simultaneously introduces
complex risks relating to transparency, data protection, and over-indebtedness.
This paper examines the legal and regulatory implications of BNPL within the
broader context of fintech convergence, focusing on Nigeria’s evolving
financial landscape. It analyses the roles of key actors—lenders, platforms,
merchants, and consumers and evaluates
Nigeria’s existing consumer protection and fintech regulatory frameworks. The study underscores the urgent need for Nigeria to adopt a harmonized,
technology-sensitive approach that balances innovation with robust consumer
safeguards. The paper concludes by recommending comprehensive reforms to
address regulatory gaps and strengthen consumer trust in digital finance.
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Pages:53-57
How to cite this article:
Zahradeen A Ahmad, Aisha B Ahmad "Consumer protection in the age of fintech convergence: Lessons from buy now pay later regulation". International Journal of Law, Vol 11, Issue 11, 2025, Pages 53-57
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