Consumer interest groups want buy now pay later providers to be subject to the same stringent lending laws as conventional credit providers.
The government is looking to regulate buy now pay later (BNPL) products to stop consumers racking up debts they can't pay back and has invited submissions into three reform options recommended by Treasury.
Consumer groups have joined forces to urge the government to adopt the toughest of the three options, which would see buy now pay later products treated the same way as other credit products.
