25 May 2023

Klarna introduces credit opt outs

Written By FinTech Alliance

Klarna introduces credit opt outs

Update to app includes an opt out tool

IN BRIEF:

- To activate the credit ‘opt out’, consumers enter the ‘settings’ tab in the Klarna app and select ‘deactivate credit’

- Once credit has been deactivated, consumers are taken to a page of resources and support for those dealing with indebtedness

- To reactivate credit services, consumers will need to call Klarna’s customer service teams

What does this mean?

Rocio Concha, director of policy and advocacy at consumer group Which?, commented: “It’s encouraging to see a major provider helping consumers to take more control over whether they’re using credit - and other BNPL providers could follow their lead and provide consumers with more control over their spending."

Read more here.

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