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The Latest Breaking News from Klarna

Experts warn against using Klarna to pay for Deliveroo takeaways

There are fears people will fall into further debt as the costs spiral

The Independent UK

Brits can now spread the cost of a Deliveroo using Klarna - and experts don't like it

Consumers can now buy a Deliveroo takeaway using buy now, pay later firm Klarna, but experts say the idea is 'extraordinarily irresponsible' and can impact your finances

Daily Mirror

‘It’s just so easy, isn’t it?’ How buy now, pay later can leave Britons struggling with debt

We spend almost £1bn a month through retailers’ spread-the-cost payment schemes. But many borrowers find themselves missing payments, covering instalments with credit cards – and using the schemes to pay for food and other essentials. Is online credit spiralling out of control?

The Guardian - UK

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Debt concerns as UK public sector workers turn to buy now, pay later

Use of services such as Klarna, Clearpay and Laybuy rising as staff rejected by mainstream lenders

The Guardian - UK

EXPLAINER: What to know about 'buy now, pay later'

If you shop online for clothes or furniture, sneakers or concert tickets, you’ve seen the option at checkout to “buy now, pay later” by breaking the cost into smaller installments over time

The Independent UK

As 'buy now, pay later' plans grow, so do delinquencies

A growing number of American shoppers have jumped at the chance to use “buy now, pay later” loans to pay for new sneakers, electronics, or luxury goods in installments

The Independent UK

Apple Pay Later could move to the UK - how the US version works

iOS 16 could launch a new way to pay through Apple with no added interest

Glasgow Live

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Klarna losses more than triple as consumer spending slows

Buy now, pay later firm will issue smaller loans to some customers to return to profitability

The Guardian - UK

Venture capital’s silent crash: when the tech boom met reality

Investors of all stripes have crashed the clubby world of VC, drawn by the potential of tech start-ups. But there are signs the party is over

Financial Times

The Buy Now, Pay Later Juggernaut Is About to Be Tested

Economic uncertainty, competition, regulators, and the usual consumer debt problems are spoiling the fun.

Businessweek

Spiralling costs forcing families to use credit to pay essential bills

Increase in use of Buy Now Pay Later deals to pay for energy and food sounds alarm at energy and debt advice charities

Chronicle Live

Klarna’s valuation plummets amid criticism of 'Buy Now Pay Later' schemes

The company's dealing with competition, public scrutiny, and stingier shoppers.

Input

Klarna’s road ahead looks a little harder this year

With Apple set to enter the market and shrinking appetite for tech stocks the future looks less rosy for buy now, pay later firm

The Guardian - UK

Klarna sees its value slashed by 85% in latest round of fundraising

‘Buy now, pay later’ firm, once Europe’s most valuable private tech company, valued at less than $7bn

The Guardian - UK

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Evening Standard

Klarna wipes off 85% of value in latest funding round

The value of Swedish Buy Now, Pay Later business Klarna has plummeted 85% from its 2021 peak after a fresh funding round, in the latest sign of dwindling fortunes for short-term lenders amid rising inflation and fears of a looming recession.

The Independent UK

Tenth of students turning to food banks over cost-of-living crisis – survey

Students are turning to credit schemes such as Klarna as they struggle with the cost-of-living crisis, a National Union of Students survey found.

The Independent UK

Martin Lewis hits out at ‘painfully slow’ changes to buy now, pay later rules

Tighter regulation on the industry may not be enforced until 2024, according to reports

Glasgow Live

Martin Lewis hits back at 'painfully slow' regulation process for Klarna, Clearpay and more

Money Saving Expert criticised the 'painfully slow' process to regulate the buy now, pay later schemes that has thrown many young people into debt - firms such as Klarna, Laybuy and Clearpay became popular during the pandemic.

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The Guardian - UK

Buy now, pay later: your rights over refunds as Missguided collapses

The fashion brand is not paying buyers back – but big finance firms say they will return cash

The Independent UK

Government support for poorer students ‘to fall to lowest level in seven years’

Students are turning to payment apps such as Klarna or food banks to make ends meet says NUS.

The Conversation

Buy now pay later: how to protect consumers without regulating it out of existence

Calls to regulate the booming “buy now, pay later” (BNPL) industry have not deterred big brands like Apple and Amazon from the idea of offering consumers an interest-free, no-fee way to spread payments for purchases. Apple cited “users’ financial health” when it announced this new feature, but research shows financially…

Input

Apple’s buy now, pay later service couldn’t have come at a worse time

Apple's Pay Later service comes as competitors like Klarna and Afterpay face scrutiny and lawsuits for leading young customers into debt

Daily Record

Millions of Klarna customers will see payment history show on credit report from this month

People using buy now, pay later schemes will see changes on their credit file.

Benzinga

Top News In Fintech And Beyond For June 2, 2022

👉 Top Things To Know In TradeFi:

The Guardian - UK

Klarna criticised for chaotic handling of job cuts

UK employees said they were ‘blindsided’ by the Swedish firm’s announcement

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