The Trustmark shows that these BNPL providers are committed to following the code of conduct to ensure consumer protection
Abnk, Atome, Grab, and SeaMoney, which provide Buy Now, Pay Later services, have been awarded the BNPL Trustmark by the Singapore Fintech Association and the BNPL Working Group, The Edge Singapore reports.
The Trustmark shows that these BNPL providers are committed to following the strict guidelines in the code of conduct. According to a statement from SFA and the BNPL Working Group, this code promotes responsible lending and ensures consumer protection. Following the call for applications on March 31, these four providers underwent thorough independent assessment by auditing firm Price Waterhouse Coopers and evaluations by SFA and the BNPL Working Group.According to the press release, consumers and merchants utilising BNPL services are strongly encouraged to engage only with accredited providers to safeguard their interests.
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