BNPL news and archive

Klarna offers interest-free shopping to all online retailers

Global banking, payments and shopping service Klarna has launched a new shopping feature that allows customers to pay in instalments at any retailer, even if it does not offer the service. Through the new shopping app feature, customers can shop at any online retailer and use Klarna’s pay-in-3, spreading out payments through three-interest free...

Business

Charities in the UK share concerns about buy-now-pay-later schemes

Citizens Advice, a UK-based network of legal, money and consumer groups, has recently sounded the alarm regarding Buy-now-pay-later (BNPL) schemes, saying that many users were getting into debt and struggling to pay for food and bills. In a recent research, Citizens Advice found that It found that 45 percent of 18-to-34 year olds have used the...

Fashion

MPs criticise London Fashion Week sponsorship deal with Clearpay

The British Fashion Council is facing a backlash after naming buy-now-pay-later payment service Clearpay as the principal partner of London Fashion Week, which kicked off on February 19. A cross-party selection of 60 MPs has signed a letter expressing their concerns to the British Fashion Council regarding the sponsorship deal, a well as urging...

RetailFeatured

Is buy now, pay later the new financial crisis for millennials?

Splashing out on a new wardrobe has never been easier. Shopping for amazing fashion under the guise of buy now pay later (BNPL) has seen a new generation face increased debts, specifically for buying clothing and accessories. Once the maxim of credit card companies, where spending large sums on big ticket items could be paid in instalments, it...