Buy Now Pay Later in Australia has moved into a new era, with the sector’s products now regulated by credit laws.

It means customers signing up for products like Afterpay will now have to answer questions about their finances and have their credit history checked before they can pay in four instalments.

Michael Saadat, International Head of Public Policy at Block, the owner of Afterpay, talks to Sean Aylmer about how the changes work, and why they welcome the tailored regulation of the industry.