Buy now, debt later – how the lure of Klarna encourages young people to spend

Industry News | 08/02/20

Young people are taking on more debt and damaging their credit scores thanks to the availability of cheap and easy borrowing that encourages them to spend beyond their means. So-called “buy now, pay later” services allow online shoppers to purchase clothes and beauty products worth hundreds of pounds without spending a penny up front.They differ from traditional credit cards and personal loans as they are offered during the checkout process of online retailers, after shoppers have filled their basket with items.

Source: The Telegraph