BNPL: Klarna to charge late payment penalties to British users

As it already does in the Netherlands and in Belgium, the BNPL specialist Klarna will introduce penalty fees in the U.K., starting March 16, 2023. According to mind Fintech, £5 will be charged to users who are late with payments (capped at 25% of the total amount and 2 penalties per purchase). Users will be alerted in advance, with a 7-day delay before the penalty is effective. This measure is a social concern in the U.K., where BNPL has become increasingly popular for essential purchases.