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.
darling @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, is 0%
Borrowing should only be done when needed, for planned, one-off, budgeted purchases, no cheeky Nandos.
— Martin Lewis (@MartinSLewis) October 12, 2022
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.”
Missed payments would also show up on a person’s credit file and potentially impact how someone would pay for loans and mortgages.
https://www.theargus.co.uk/news/23044575.martin-lewis-criticises-deliveroo-adding-klarna-option-payment/?ref=rss Martin Lewis criticizes Deliveroo for adding Klarna option for payment