Is Clearpay regulated by the FCA? What its status means
Clearpay Plans have been regulated credit since 15 July 2026, but the FCA lists Clearpay in its temporary regime: not yet authorised. What that means.
Clearpay is regulated by the FCA through a temporary permission, not full authorisation. Since 15 July 2026 Clearpay Plans have been regulated credit agreements under the Consumer Credit Act 1974, and the FCA lists Clearpay Finance Ltd in its temporary permissions regime, whose lenders, the FCA says, “aren’t authorised by us yet” but can still offer interest-free instalment plans.
What does “deemed authorised” mean for Clearpay?
Clearpay’s help page on UK BNPL regulations, which this desk read on 23 September 2026, says Clearpay Finance Limited “is deemed authorised and regulated by the Financial Conduct Authority (FCA) for the purposes of the Temporary Permission regime for Regulated Deferred Payment Credit”. Taken in parts: the entity is Clearpay Finance Limited; the status is deemed, not granted; and it holds only for the purposes of one regime, which the page says “allows firms to carry on deferred payment credit activities while seeking full authorisation”.
The FCA’s consumer page, last updated 6 August 2026, states the position from the regulator’s side. Its list of 15 lenders with temporary permission includes “Clearpay (Clearpay Finance Ltd)”, and a lender on it “has to follow our rules for any DPC agreements entered into from 15 July”. The FCA’s page for firms says registration for the regime “has now closed”. Why the regime leaves firm status hard to read is covered in our piece on temporary permissions.
Is Clearpay regulated by the FCA now, when it was not before?
The sources ranking for this question span four years.
| Source, date | Clearpay’s status | Ombudsman and Section 75 |
|---|---|---|
| FCA press release, 14 Feb 2022 | “not yet regulated” | Not addressed |
| Pocketwise guide, 9 May 2026 | Pay in 4 “currently exempt” | Section 75 “does not apply”; no Ombudsman escalation |
| FCA firms page, 29 May 2026 entry | Added to temporary permission register | Not addressed |
| FCA consumer page, updated 6 Aug 2026 | “aren’t authorised by us yet” | Section 75 “is available”; Ombudsman after the lender |
| Clearpay help page, undated, read 23 Sept 2026 | “deemed authorised and regulated” | Ombudsman escalation; Section 75 on eligible purchases “over £100” |
In the 2022 release, after the FCA secured changes to terms at Clearpay, Klarna, Laybuy and Openpay using the Consumer Rights Act, its executive director Sheldon Mills said: “We do not yet have powers to regulate these firms.” Pocketwise’s guide predates regulation day; for Plans taken out from 15 July 2026, its position no longer holds.
Are Clearpay plans taken out before 15 July 2026 regulated?
No, on the FCA’s account: any deferred payment credit agreement taken out before that date “will also remain unregulated” and that “The new protections won’t apply to these agreements.” What redress is left for those plans is set out in our assessment of pre-regulation plans, and the wider rule change in what changed on 15 July 2026.
How to check Clearpay’s FCA status yourself
The FCA’s steps: search for the firm on FCA Firm Checker, select “Borrowing money, including credit card lending and credit information”, and check whether the firm is “Authorised” with permission to “Lend you money on an unsecured basis”. If it is not, check the FCA’s list of lenders with temporary permission; the FCA says membership of the regime also shows on Firm Checker. This desk did not read Clearpay’s Register entry itself.
Questions readers ask
Is Clearpay FCA authorised?
Not fully, on the FCA’s own wording. The FCA’s buy-now-pay-later page lists Clearpay (Clearpay Finance Ltd) among lenders registered for its temporary permission regime and says those lenders “aren’t authorised by us yet, but can provide DPC agreements”. Clearpay describes itself as “deemed authorised and regulated” for the purposes of that regime.
Is Clearpay covered by the Financial Ombudsman?
For Clearpay Plans taken out from 15 July 2026, Clearpay’s help page lists “the right to escalate unresolved complaints to the Financial Ombudsman Service”, and the FCA’s consumer page sends complaints to the lender first, then the Ombudsman. The FCA says agreements taken out before 15 July 2026 remain unregulated and that the new protections won’t apply to them.
Is buy now pay later regulated by the FCA?
Deferred payment credit, the interest-free kind repayable in 12 or fewer instalments over 12 months or less, has been regulated by the FCA since 15 July 2026. The FCA says it is not regulated where the business you buy from provides the credit itself, and agreements taken out before that date remain unregulated. Lenders need authorisation or a temporary permission to keep offering it.
Fin Watch is a publisher, not an authorised firm, and nothing above is advice. The status described is what Clearpay’s and the FCA’s pages said when this desk read them on 23 September 2026; the FCA’s own list is where to check it again.