BNPL credit
credit in relation to which provision is made that:
(1) (a) no, or reduced, interest or charges are payable by the borrower in respect of an initial period of 56 days or more (“the promotional period”) if the borrower repays all or a specified part of the credit advanced on or before a certain date; and
(b) in the event that the borrower does not make payment in accordance with the provision in (a), interest or charges are payable, or are payable at a higher rate, in respect of all or part of the promotional period; or