핀테크업체의 새로운 신용 기반 지급결제방법으로서의 후불결제(BNPL)서비스에 대한 연구

Abstract

The BNPL service as a credit-based payment is recognized as providing consumers with the convenient user-experience and the benefit of no interest or charge and is growing rapidly especially in Australia, the UK, the US and Sweden. In Korea, the BNPL service was introduced with the designation of an innovative financial service for the purpose of extending thin filersʼ access to credit-based payments and promoting innovation and competition in the market of non-cash payments. Furthermore, the BNPL service is included in the proposed amendment to the Electronic Financial Transactions Act as a concurrent business unit of an electronic financial business entity. The financial authorities in foreign countries where the BNPL service is used frequently are examining the regulatory issues in relation to the service. First of all, due to the poor product disclosure practices, consumers do not have sufficient information to make informed decisions about the BNPL service. Second, most BNPL providers do not conduct affordability assessments in the sign-up process, which leads to consumersʼ unaffordable indebtedness. Third, due to the lack of the credit reporting framework in the area of the BNPL industry, a consumerʼs credit information related to a BNPL provider is not shared by other providers, which enables consumers with outstanding missed payments to seek credit from alternative BNPL providers. In response to these issues, the financial authorities consider applying the regulatory framework under the existing statute on consumer credit protection to BNPL providers. Also in Korea, it is essential that the financial authorities brace for the risks which might arise in relation to the BNPL service. For this purpose, the regulation applicable to the credit card business will be useful because the credit card business is the most similar to the BNPL service in terms of the financial function. However, it is assumed that the consumer detriment and the systemic risk caused by the BNPL service is low compared with other credit products including the credit card business. In this sense, there should be a balance to be struck to ensure that BNPL users are given appropriate protections without undermining the benefits of the BNPL service such as the usersʼ convenience and the thin filersʼ accessibility to credit.