Klarna to start reporting UK customer debts to credit agencies
by Kalyeena Makortoff Banking correspondent from World news | The Guardian on (#5YVHZ)
Exclusive: Move by Swedish firm, the UK's leading buy now, pay later company, will begin on 1 June
The buy now, pay later company Klarna will start reporting UK customer debts to credit agencies for the first time next month, in a move that could affect shoppers' credit ratings from 2023.
The move is understood to be the result of two years of talks with the credit reference companies Experian and TransUnion, and comes as buy now, pay later (BNPL) firms face pressure from MPs and campaigners who say they should prevent customers from taking on more debt than they can afford.
Continue reading...