fintech / news / / The Guardian
UK consumers spend online using such deals rose up to £1.7bn a month.
UK online 'buy now, pay later' spending reached £1.7bn per month, a fourfold increase since 2020.
KEY POINTS
- Government-promised regulation for 'buy now, pay later' has been delayed over three years despite rapid market growth.
- More than £1 in every £7 spent online in early 2024 was via 'buy now, pay later'.
- 35% of regular users have used 'buy now, pay later' to buy groceries, increasing debt risk for essentials.
- Klarna says only 0.6% of its transactions are sent to debt collectors, with no added interest.
COMPANIES
Summarized by Newsio from The Guardian. How we summarize →