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MYSTERIOUS: 12 - You Need To See This

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

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.

Evening Standard

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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

The Independent UK

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.

Glasgow Live

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 Guardian - UK

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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 Independent UK

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…

The Conversation

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

Input

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.

Daily Record

Top News In Fintech And Beyond For June 2, 2022

👉 Top Things To Know In TradeFi:

Benzinga

Klarna criticised for chaotic handling of job cuts

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

The Guardian - UK

Klarna shake-up means missed payments will show on your credit file from today

Klarna will report late payments and unpaid purchases for "pay in 30" and "pay in three" orders made on, or after, June 1 to both Experian and TransUnion

Daily Mirror

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Wales Online

Buy Now Pay Later firm Klarna warns of oncoming recession and cuts 700 staff

Shoppers are not spending in the way they were six months ago

Input

Klarna to lay off 10 percent of its workforce as consumers shun layaway

Consumers just aren’t spending like they used to, laments CEO and co-founder Sebastian Siemiatkowski.

Input

Gen Z is falling into debt thanks to ‘buy now, pay later’ startups

Companies like Klarna and Afterpay can enable bad spending habits, tank your credit, and lack the consumer protections of genuine credit lenders.

Glasgow Live

Klarna shoppers warned as payment history to be reported to credit agencies

Starting from June 1, buy now, pay later company Klarna will begin reporting UK shopper debts to credit agencies for the first time — which could be bad news for those who miss payments

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Daily Record

Klarna customers will see payment history start to appear on credit file from next month

People using buy now, pay later schemes will see changes from June 1.

Wales Online

Missing Klarna payments will affect your credit score under Buy Now Pay Later changes

A good credit score is essential to securing large loans like a mortgage to buy a house, from June Klarna will report customers who don't pay on time

Chronicle Live

Shoppers warned of Klarna change for buying from ASOS, Pretty Little Thing, H&M or Debenhams

The company has announced some changes which could affect customers' credit score

Manchester Evening News

Warning issued to anyone who uses Klarna for H&M, ASOS, Pretty Little Thing, Missguided, Debenhams and other websites

A change in the way Klarna works from next month will put 16 million people's credit at risk

Liverpool Echo

Klarna customers facing big shake-up that could impact credit score

The company has announced some changes to how it is operating

Daily Mirror

Huge Klarna shake-up means missed payments will now affect your credit score

Klarna said it will report consumer purchases paid on time, late payments and unpaid purchases for "pay in 30" and "pay in three" orders made on or after June 1 to Experian and TransUnion

The Independent UK

Klarna to report product use and missed payments to UK credit reference agencies

Klarna said it will protect customers and provide the industry with greater visibility of BNPL use, helping to improve affordability assessments.

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