The National Assembly's Finance and National Planning Committee has launched a review of Buy Now Pay Later (BNPL) services following customer complaints regarding alleged exploitation and debt recovery practices. The committee, chaired by Molo MP Kuria Kimani, will question firms on their licensing, loan terms, customer onboarding and asset recovery procedures for borrowers in default.
Kimani warned that companies must attend hearings or face consequences under parliamentary Standing Order 191. The committee said it had received multiple complaints from people claiming to be victims of exploitation. Firms will be required to explain how they comply with consumer protection regulations. Mogo Auto Limited, which was invited to appear, did not attend and asked to reschedule the meeting.