Consumer Protection Code – Buying on Credit

Many retailers offer short-term credit when you're shopping, either online or in their physical stores. This gives you flexibility – you can choose to pay the full amount straight away, or break it down into manageable instalments over time.

However, using short-term credit is the same as taking out a loan. Therefore, short-term credit providers need to adhere to the Consumer Protection Code when providing this type of credit to you.

Buying on credit is when you purchase your goods and services now – in-store or online – and pay for them in full later or by instalments over a short period of time.

While this can be an easy way to pay for goods and services, buying on credit is the same as taking out a loan.

Where this type of credit is offered, your provider is expected to introduce a pause feature to check that you understand you are entering into a credit agreement.

The Consumer Protection Code: For clarity, for informed decision-making, for you.

See also:

Short-Term Credit

What to know when buying goods and services by instalment.