this post was submitted on 23 May 2025
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Klarna (a once darling Fin-Tech startup company) is now demonstrating spiraling losses as they attempt to create a micro loan financing business that essentially enables irresponsible spending with zero accountability.

Debt purchasing for major and impactful items (such as cars, or houses) can be justified in myriad ways, but debt purchasing of chipotle burritos and apple airpods, cannot. If a business constructs its entire premise around lending to people who should not be spending in the first place, I don't think anyone should be shocked when that business loses large amounts of money.

The Doomed Economics of Klarna, should be visible a mile away. Buy Now, Pay Later, should be more accurately referred to as "Buy Now, Pay Never"

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[–] stoy@lemmy.zip 5 points 2 weeks ago

I interviewed for a job at Klarna HQ in Stockholm about a decade ago, and I am glad I didn't get it, I had a great time at my past employer and a have decent time at my current.

Their reception was flashy, but the interview was strained.

I used to love Klarnas payment system, when I first got into online shopping it was great, you entered your name, phone and address, and then selected that you wanted to pay through your internet bank, you got sent to your internet bank, logged in with your hardware token and approved the single transaction, done, easy.

Now you need to set up an autopay service to Klarna to be able to do something similar, oh and they won't take the money immediately, it can take a few days, so you can loose track of it and be annoyed later.

I will never take any offer to buy now, pay later, that is just dumb.