Klarna, which is seeking to be an alternative to credit cards, has researched consumer concerns.
Klarna found 25% of consumers are worried about interest payments and fees on credit cards.
50% of those surveyed had been in debt due to credit card borrowing.
68% of buy now, pay later users think that BNPL will help them manage spending “more effectively” over the Christmas period.
What does this mean?
Alex Marsh, Head of Klarna UK, says it is about time people stop seeing credit cards as a “safe option” when it comes to debt, and for some time now Klarna has been arguing that BNPL is a viable alternative.