The Latest Breaking News from Klarna

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. 

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.

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

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.

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

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

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…

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

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

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