Aisha Master News Today

Buy now, pay later firms including Klarna will face tighter regulation from the City watchdog to stop millions of young shoppers plunging into huge debts after spending soared to £2.7billion during the pandemic. The Financial Conduct Authority (FCA) today said bringing the burgeoning sector under control was a matter of urgency after a review of the unsecured credit market found one in 10 people using them already had debt arrears elsewhere.  The schemes, provided by firms like Klarna and ...

Shoppers relied on buy now, pay later firms to spend £2.3billion over the Christmas period, as lockdown measures pushed Britons to buy presents online. Research found that one in four shoppers used firms such as Klarna, which has formed partnerships with hundreds of household name retailers, in the run up to Christmas.  Shoppers spent an average of £170, which it is claimed represented nearly 40 per cent of all Christmas shopping, adding up to a total bill of £2.3billion   Buy now, pay la...

Updated Wednesday, 23rd December 2020, 2:55 pm A Klarna advertising campaign posted on social media platform Instagram has been banned by the UK’s advertising watchdog for being “irresponsible.” The Instagram campaign by Klarna - which is a ‘buy now, pay later’ provider - paid four so-called ‘influencers’ on social media to post about both clothes and skincare products in April and May, in order to encourage people to use Klarna to shop to “boost their mood.” However, the UK�...

An Instagram influencer campaign that encouraged customers to use credit to buy now, pay later to cheer themselves up during the lockdown has been banned.   The UKs Advertising Standards Authority has banned Swedish bank Klarnas irresponsible campaign after receiving a complaint from Labour MP Stella Creasy. Klarna allows customers to pay for products in instalments with no fees or interest and has more than 10million customers in the UK.  In April the bank hired four influencers on Instagra...

Klarna and Instagram influencers reprimanded by watchdog over irresponsible Covid-19 adverts The firm claimed the focus of their posts was to highlight the importance of self care and did not explicitly encourage use of its product 23 December 2020 • 6:00am Klarna allows shoppers to pay for things in instalments Credit: Dado Ruvic/Reuters Posts by social media influencers were “irresponsible” and encouraged people to get in debt by shopping using credit to lift Covid low moods, the advert...

Insta fan: Claire Menary: who has 34,000 followers, has promoted Klarna  They are the glamorous social media stars with the picture-perfect lifestyles that attract thousands of aspiring young followers. Yet their posts are now being investigated by the advertising watchdog over fears they irresponsibly promoted buy-now, pay-later credit as a way to feel better in the pandemic.  Business is booming for buy-now, pay-later lenders that allow shoppers to delay paying for goods. But the meteoric r...