Thread by @AliceRTapper, #klarNAA Today I’m launching a campaign urgently calling for better regulation to [...]

Alice Tapper

AliceRTapper

#klarNAA Today I’m launching a campaign urgently calling for better regulation to protect young and vulnerable consumers from misleading Buy Now Pay Later products

1/12

#regulateBuyNowPayLater

Please sign the petition

https://bit.ly/3dlSY2r

#klarNAA Today I’m launching a campaign urgently calling for better regulation to protect young and vulnerable consumers from misleading Buy Now Pay Later products 1/12 #regulateBuyNowPayLaterPlease sign the petition https://bit.ly/3dlSY2r

I’m tired of being bombarded by manipulative AD campaigns for products which exploit the vulnerabilities of young people and women 2/12

Please sign the petition

https://bit.ly/3dlSY2r

I’m tired of being bombarded by manipulative AD campaigns for products which exploit the vulnerabilities of young people and women 2/12 Please sign the petition https://bit.ly/3dlSY2r

I've been investigating the stories of people who have been misled by BNPL and looking into the regulatory gaps which desperately need closing 3/12

We need better protection at checkout and tougher ad standards. In terms of exploiting gaps in regulation, Klarna is the biggest offender 4/12

Dishonesty - Klarna’s claim on their website that credit scores will not be impacted even if you don’t pay on time. This is not true. They sell unpaid debt to collection agencies. 5/12

Please sign the petition

https://bit.ly/3dlSY2r

Dishonesty - Klarna’s claim on their website that credit scores will not be impacted even if you don’t pay on time. This is not true. They sell unpaid debt to collection agencies. 5/12Please sign the petition https://bit.ly/3dlSY2r

Manipulative advertising - Claims in ads of ’no impact on your credit score’, and ‘no interest, no fees, ever'. Also not true on all products, and misleading. 6/12

Please sign the petition

https://bit.ly/3dlSY2r

Manipulative advertising - Claims in ads of ’no impact on your credit score’, and ‘no interest, no fees, ever'. Also not true on all products, and misleading. 6/12Please sign the petition https://bit.ly/3dlSY2r

Consumers are accidentally using Buy Now Pay Later - Klarna is the default payment option on several sites. There is no risk wording 7/12

Please sign the petition

https://bit.ly/3dlSY2r

Consumers are accidentally using Buy Now Pay Later - Klarna is the default payment option on several sites. There is no risk wording 7/12Please sign the petition https://bit.ly/3dlSY2r

23% of 18 to 24-year-olds have turned to BNPL services since the start of lockdown (Compare the Market) During this time, Klarna revenues have surged (Sifted) 8/12

45% of young people who have used a buy now pay later scheme in the last year say they have missed at least one payment (Compare the Market) 9/12

Buy now pay later can be useful for consumers, however, there is a risk that without better protection we'll see young people who already face the reality of a debt crisis and recession, under unmanageable financial pressure 10/12

Please RT to support and sign the petition calling for consumers to be better protected from misleading Buy Now Pay Later products and ads 11/12

https://bit.ly/3dlSY2r

#KlarNAA
#regulateBuyNowPayLater

Please RT to support and sign the petition calling for consumers to be better protected from misleading Buy Now Pay Later products and ads 11/12 https://bit.ly/3dlSY2r #KlarNAA #regulateBuyNowPayLater

For more on the problems, stories and proposed solutions please take a look at the campaign site 12/12

The campaign page

https://bit.ly/3egxS6L

#KlarNAA
#regulateBuyNowPayLater

PROTECT YOUNG CONSUMERS FROM BNPL RISKS | GO FUND YOURSELF

We're calling for tougher advertising standards and better consumer protection on Buy Now Pay Later products

https://bit.ly/3egxS6L

You can follow @AliceRTapper.

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