Regulation and how it may look, page-3

I don't think the options paper ever suggested amending the definition of credit and i'm not sure extending bnpl past 4 would be better for the company anyway as any extension to 4 may imo only result in increased delinquency risk, increased bad debts, increased interest exp, etc etc. Sezzle have discussed Pay in 2 and Pay Now in the past which may suit some users and should benefit the company too.

I think the short term nature, i.e. pay in 4, is probably the biggest difference between bnpl and traditional credit which can have an indefinite time horizon. Some commentary echoed across a few submissions was that the short term nature, reliatively low exposure and the ability to freeze a users account immediately after they miss one payment supports the argument that bnpl is less likely to result in consumer harm than traditional credit. BNPL companies can basically nip users in the bud very quickly to prevent escalation, harm, etc. even after say just 1 week.