Martin Lewis criticizes Deliveroo for adding Klarna option for payment

Klarnathe Buy Now, Pay Later service has been added as an option alongside credit, debit card and PayPal.

This allows people to pay off the cost of their curry, takeaway pizza or fish and chips up to 30 days later or in three equal installments over 60 days with a minimum of £30.

Deliveroo Chief Business Officer Carlo Mocci said: “Millions of people are already voting Klarna and we’re giving customers more choice and flexibility with a secure online payment method.”

That decision drew criticism from a number of financial experts and groups, which Money Saving Expert founder Martin Lewis has now joined.

On his Twitter account, he posted: “Dear @Deliveroo Do you really need pump debt to pay for takeaways?

“Buy now, pay later may seem harmless, but it’s 1) not regulated yet 2) debt, even when done right, it’s 0%.

CONTINUE READING: Deliveroo adds Klarna buy now pay later option for its deliveries

“Borrowing should only be done when needed, for planned, one-time, budgeted purchases, not for naughty nandos.”

As the Metro reports, there was criticism of it Klarna option as it “might encourage buyers to build up unaffordable debt” and thereby Klarna could then pass on the arrears to collection agencies.

Missed payments would also show up on a person’s credit file and potentially impact how someone would pay for loans and mortgages. Martin Lewis criticizes Deliveroo for adding Klarna option for payment

Fry Electronics Team

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