Klarna has announced it will be launching a physical ‘buy now pay later’ credit card in the UK allowing users to defer payment of purchases for up to 30 days, in line with the “Pay in 30” product the Swedish tech giant currently offers online.
The “Pay in 30” option allows shoppers to spread the cost of payments over 30 days without incurring any interest or late fees charges.
While ‘buy now pay later ’ providers allow shoppers the chance to purchase items without making an instant dent in their bank account, like a credit card, there are risks to such schemes that can lead people into unwanted debt.
