Unregulated credit is currently one of the most highly valued sectors in fintech, as it combines credit spreads with the explosive growth of payments and e-commerce… However, regulators want to regulate these products as soon as possible “ Buy Now Pay Later", sometimes accused of contributing to over-indebtedness. In the United Kingdom, deputies want to attack "Klarnage"; in Brussels, the commission published its proposal for the revision of the consumer credit directive by regulating, for example, small credits. BNPL: the end of the state of grace?