4 July 2024 at 09:53 Consumer Protection Authority: Klarna risks enforcement fines Klarna must pay NOK 9 million per week in enforcement fines if they do not change the payment solution “buy now, pay later”, according to the Consumer Protection Authority. Klarna is breaking the law because the payment solution is a credit agreement, which is covered by strict legal requirements, the Consumer Authority believes. – To enter into a credit agreement, consumers must apply for credit and sign the credit agreement. It is also a legal requirement that whoever offers credit must carry out credit assessments. Klarna does not do this today, writes the Norwegian Consumer Protection Authority. People can thus buy things on credit that they cannot necessarily afford to pay for, the inspectorate believes. (NTB)
ttn-69