Why ordering a takeaway on Deliveroo and Klarna's 'eat now, pay later' scheme is so risky 👉 Deliveroo customers can now buy takeaways and groceries on credit – a move that has debt experts concerned
Research conducted by Which? has found that there can be little to no information provided on the danger of falling into debt if repayments aren’t made, and many BNPL users do not think of the schemes as a form of credit.
Matthew Upton, director of policy at Citizens Advice, said: “As living costs spiral, more people in desperate situations will see this form of credit – with its patchwork of rules and protections – as the answer, when in reality they are being left unprotected and ill-informed.” Klarna does not charge customers interest or fees if the full amount is paid within the agreed time. However if the payment is not completed by the last reminder due date, the company may transfer the debt to a debt collection agency.
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