I type Klarna into TikTok, a social app Im told will help unearth the secrets of Gen Z. What appears is anything but secret: video upon video of teens and twentysomethings, mainly women, in despair at the temptations of buy now, pay later and their huge unpaid balances.
The footage is creative and self-deprecating. One user reveals her 5.98 bank balance a sum that will barely make a dent in the 120 she owes in three days in the style of Countdown. Another facepalms in front of her overdue Klarna statement, which displays the 563 accrued on Asos. The hashtags #broke and #addict appear with alarming regularity.
Buy now, pay later isnt new but digital providers have emerged, aimed at shoppers who want to look fire and pay later, as Missg…
Read the full article at: https://www.telegraph.co.uk/money/consumer-affairs/treat-addictive-buy-now-pay-later-like-gambling-booze-must/