Klarna’s losses widen after more consumers fail to repay loans
Klarna’s losses widen after more consumers fail to repay loans
‘Buy now, pay later’ group’s weaker results come as concerns rise about the financial health of US consumers
Paywall removed https://archive.is/77WtC
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Their whole purpose is to psychologically trick people into buying more than they can afford. It only takes elementary level math to see this coming.
My company had a client who did those financed schemes where people buy furniture and TVs and stuff and pay in installments. The one bit of information that stuck with me was they expected 50% of customers to default. They went under.
I was about to say how can you run a business like that but it just clicked. The execs were running a scheme on the company itself. The company tricks financially illiterate customers (I sympathise, not denigrating) into debt and bankruptcy, ruining their lives, while the owners pay themselves handsomely and buy cars and mansions running the company into bankruptcy. But they walk away with all their toys paid for by the broken finances of their victims.
Fucking parasites.
sounds like a variation of a PE firm.