Today news
About the same in other media
Klarna strengthens credit checks in the UK as regulators crack down on ‘buy now, pay later’
Reading now: 921
cnbc.comLONDON — Swedish fintech firm Klarna on Monday said it is introducing a number of changes to its product in the U.K., as regulators in the country prepare to tighten regulation on the fast-growing «buy now, pay later» industry.
One of the biggest updates Klarna is implementing is stronger credit checks. The company said a new tool will let users share income and spending data from their bank accounts to determine whether they can afford future repayments. The feature is voluntary, a Klarna spokesperson said.
Unlike banks and credit card providers, Klarna doesn't conduct hard credit checks on its customers, meaning their credit score shouldn't show up on their credit history.
Klarna said it will also launch the ability for users to pay for
Read more on cnbc.comAbout this in other media
Former AliPay UK CEO Rita Liu on how regulators are boosting crypto literacy finextra.com /3 years ago
France backed down in fishing row when it ‘looked at evidence’, says George Eustice theguardian.com /3 years ago
EY partners get record £749k pay amid activity boom fnlondon.com /3 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
