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  • Credit
  • Regulation
  • Payment
  • United Kingdom

Klarna will report credit scores

BNPL giant Klarna, whose flagship product is under review by prudential regulators, has announced that it will report its customers' transaction information about their credit transactions to the UK's leading credit rating agencies. This decision appears to be taken in anticipation of forthcoming European regulations to better regulate Buy Now Pay Later. At the same time, the fintech's valuation has reportedly fallen sharply and it is preparing for a crisis by reducing its workforce by 10%.

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