BNPL firms welcome UK government plans to regulate the sector June 20, 2022 Buy-now pay-later (BNPL) firms today welcomed the UK government’s long-awaited plans to regulate the sector amid concerns that more people are turning to such services as the cost of living rises. Under plans announced today, the government said that BNPL firms – which provide shoppers with short-term interest-free credit to delay paying for goods – [...]
Klarna looks to raise cash at slashed valuation of $15bn June 17, 2022 Buy-now pay-later giant Klarna is looking to raise fresh cash at a slashed valuation of $15bn, according to news reports.
Another one: Zopa Bank enters buy-now pay-later space June 8, 2022 Digital bank Zopa has entered the highly competitive buy-now pay-later (BNPL) space, following suit of tech giant Apple and on the toes of the likes of Klarna.
Buy Now Pay Later firm Klarna claims ‘credit cards pose the real risk’ January 7, 2022 Klarna has claimed credit card providers pose a bigger risk to consumers as Government prepares to clampdown on the BNPL sector.
Over 17 million have used buy now, pay later services November 29, 2021 The number of people who have used Buy Now, Pay Later (BNPL) services for their online shopping has now surpassed 17 million, according to reports. Klarna, the biggest BNPL player in the UK, has seen its number of customers double to 15m since last year, according to the BBC, which first reported the news. As [...]
Amazon’s merciless move to block Visa likely to lead to rapid uptake of… Amazon credit cards, which are issued by Mastercard November 22, 2021 Following the news that Amazon will no longer accept payments from UK-issued Visa credit cards, some industry insiders are convinced the e-commerce giant’s decision is a calculated move to drive the adoption of the company’s own payment cards, and will give a competitive advantage to Visa’s main rival, Mastercard. Last week, the online retailer confirmed that Visa credit [...]
Klarna challenger Zilch becomes fastest-ever British unicorn November 10, 2021 London-based fintech Zilch has today closed a mammoth $110m Series C funding round and become the UK’s latest billion dollar company in record-breaking time. The round brings Zilch, whose product capitalises on the lucrative Buy Now Pay Later (BNPL) sector but in many ways resembles a credit card, to a $2bn valuation – four times [...]
Treasury mulls buy now pay later crackdown and launches consultation October 21, 2021 A regulatory crackdown on the booming buy now pay later (BNPL) sector is coming into sight after the Treasury launched a consultation on the policy options for the market today. Consumer rights charity Citizens Advice urged the government to swiftly translate the consultation into action, as it warned that BNPL borrowing can “be like quicksand [...]