Buy now pay later providers are only beginning to feel the squeeze of the cost-of-living crisis. By mid-June, UK consumers had spent over 5.6 billion pounds via purveyors of delayed payment services. In 2021, it took until October for shoppers to notch up the same amount, according to Credit Karma, a California-based credit reference service.
The increased activity may seem like good news for industry leader Klarna. However, inflation, which soared to over 9% in Britain in June, means more consumers are struggling to make repayments.
Some 41% of buy now pay later users had missed a repayment this year, up from just 11% for the same period last year. Delinquencies are only likely to get worse. In October, a price cap on UK energy bills is expected to rise, bringing the estimate for the average bill to over 3,200 pounds. Unlisted Klarna’s valuation has already collapsed from $50 billion to $7 billion this year. There may be more pain in store.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Channel 4-Backed UK Indie Two Rivers Media Buys Back Stake From Noble GrossartEXCLUSIVE: Channel 4-backed Two Rivers Media, a major player in the Scottish TV production game, has bought back its stake from initial backer Noble Grossart, the merchant bank. CEO Alan Clements h…
Les mer »
Jamie T on Track For First U.K. No. 1 With ‘The Theory of Whatever’Jamie T leads an Official U.K. Albums Chart Update that’s top-heavy with new releases.
Les mer »
New 2022 Citroen C5X launches in UK from £27,790 | AutocarSegment-straddling flagship combines SUV, estate and saloon styles and offers PHEV power
Les mer »
2022 Aston Martin DBX707 | UK ReviewEnough with the circuits and Mediterranean islands already - here's the crucial verdict on the DBX707.
Les mer »