Sumary of Why Klarna’s #WhyPayInterest campaign needs to be on your radar:
- / Klarna Sebastian Siemiatkowski, Klarna co-founder and CEO, is a visionary who started the business 16 years ago after spotting problems with traditional banking and credit systems..
- He remains frustrated by the industry reliance on high costs and hidden fees charged to the consumer, pointing out that the banks and credit card companies made £5.7 billion from interest charges alone during 2020..
- Buy now pay later saved UK consumers £76 million in credit card fees in 2020, and those savings will grow in 2021 as more and more consumers say ‘no thanks, old banks!’”.
- While acknowledging people should use debit cards when they can, he insists credit can make sense, especially if you’d prefer not to pay everything in one go or want to wait until you’ve received the goods before making the payment, for instance..
- That why Klarna carries out assessments on every single transaction to ensure consumers only take on credit in a controlled way….