Finland
Status
No steps taken to implement specific BNPL legislation.
Is the country considering regulation?
No. In light of upcoming EU-wide legislative amendments to the Consumer Credit Directive (2008/48EC).
Current state of regulation regarding BNPL?
BNPL agreements fall under “credit”-category within the Finnish law and are treated as such. Finnish regulation differentiates consumer credit from B2B credit.A New Act on the registration of certain credit providers and credit intermediaries (16.2.2023/186) entered into force on 1 July 2023. The Act applies to businesses that grant consumer loans that fall within the scope of chapter 7 or 7a of the Consumer Protection Act (38/1978). The provisions of the Consumer Protection Act apply also to peer-to-peer loans.
Outline the proposals to change regulation?
None.
