A new EU directive on consumer credit agreements could significantly restrict the popular "buy on account" payment option in e-commerce. In future, merchants offering this option may face credit checks, broader disclosure requirements, and mandatory risk warnings – even for short-term, interest-free payments.
Industry associations warn of adverse effects: »Buy on account« has long been the most trusted online payment method. The incoming regulation may increase bureaucracy, delay purchases, or force retailers to drop the option altogether. Meanwhile, the ministry responsible for consumer protection views the directive as essential in curbing rising indebtedness among younger consumers.
For online retailers, this spells a major shift: They will need to rethink payment processes, reassess credit-risk models, and expect established payment methods to come under pressure.
For shoppers, the message is clear: account-based payment might become less available or come with stricter conditions, while alternatives like instalments or instant transfer payments gain ground.
SK
