Klarna is at the forefront of 'buy now pay later' shopping schemes right now, with its options to pay for goods at some 28,000 partnered retailers either in three instalments or at a later date. Fans say it can be a bit of a lifesaver when you're waiting for payday, although people like Martin Lewis have raised concerns about such schemes encouraging people to buy more than they can afford.
Now, Klarna has announced that it will be introducing late payment fees later this month, charging £5 per order after a certain period and then a further £5 if the sum remains unpaid beyond that. In an email to those who use the service yesterday (February 28) Klarna said: "We're reaching out to let you know that from March, 2023, Klarna will be introducing late fees for missed payments made with 'Pay in 3' and 'Pay in 30 days' in the UK.
"Late fees will only be applied if a payment remains unpaid after the due date has passed. At the same time, we're doing lots to help you avoid missing a payment, including offering automatic payments, sending friendly reminders, and applying a grace period before we charge a fee."
