The Buy Now, Pay Later crowd seems to think they have invented something different from credit cards, which they have not. Like starter cards (and subprime mortgages), many people don't pay and Klarna didn't seem too worried about that. Simply calling it something other than credit doesn't change that.
I always hear that Klarna is about 'Buy now pay later' (and having a somewhat dodgy reputation for that), but I've used it quite a few times (somewhat involuntarily, because it was the only reasonable payment option for some purchase), and it's always been immediate settlement. Do they have a separate credit card business, or what is the 'pay later' part about?
They are basically just a creditor which retailers use for payment. So while you can absolutely pay immediately, they offer pay later and credit type options. Its different sepending on the store.
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