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'Buy now, pay later' firms such as Klarna to face FCA regulation

  • 📰 The Guardian
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Treasury fears popularity of such services in Covid-19 pandemic could create high levels of debt

The City watchdog will be given powers to regulate “buy now, pay later” firms such as Klarna and Clearpay, amid fears that a surge in their popularity during the pandemic could leave consumers with high levels of debt.

 

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Are the apps upstaging VISA & Mastercard, the old fashioned way to buy stuff and amass exorbitant interest rates?

I use Klarna on a weeky basis. Great tool.

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