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Top related persons:
Klarna - 1 hasn't - 1 Sebastian Siemiatkowski - 1 Toby Melville - 1 Clearpay - 1 Sheldon Mills - 1 Huw Jones - 1 Tomasz Janowski - 1
Top related locs:
Britain Stockholm Sequoia Swedish Silver Sweden London Bank of England
Top related orgs:
PayPal - 2 CNBC - 1 Heartland - 1 Sequoia - 1 FCA - 1 Financial - 1 Authority - 1 REUTERS - 1

Search resuls for: "Clearpay"


3 mentions found


☆ Klarna, Europe's $6.7 billion buy now, pay later firm, sets wheels in motion for eventual IPO
  + stars: | 2023-11-06 | by ( Ryan Browne | ) www.cnbc.com   time to read: +3 min
Buy now, pay later firm Klarna has established a holding company in the U.K. that will sit at the top of its corporate structure, in a symbolic move that paves the path for an eventual listing. A Klarna spokesperson confirmed to CNBC that the Stockholm-based business, which lets shoppers defer payments over a period of instalments, has begun a legal entity restructuring to set up the holding company. "Klarna Holding will continue to be the regulated financial holding company under the direct supervision of the SFSA and we will continue to hold a Swedish banking license." It differs from these competitors in its flexible payment plans, known as buy now, pay later. WATCH: Klarna's buy now pay later losses are 30% below industry standard, says CEO Sebastian Siemiatkowski
Persons: Klarna, hasn't, Sebastian Siemiatkowski Organizations: CNBC, Heartland, PayPal, Sequoia Locations: Stockholm, Sequoia, Swedish, Silver, Britain, Sweden
☆ UK watchdog intervenes again in 'buy-now-pay-later' as users rise
  + stars: | 2023-10-31 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
Signage is seen for the FCA (Financial Conduct Authority), the UK's financial regulatory body, at their head offices in London, Britain March 10, 2022. Companies that offer "buy-now-pay-later" (BNPL) unsecured loans are not regulated by the FCA, though it has used Britain's consumer rights law to make contracts fairer. The watchdog said its latest Financial Lives survey showed that 27% of UK adults or about 14 million people, have used BNPL at least once in the six months to January 2023, up from 17% in the 12 months to May 2022. BNPL is offered over a short period to shoppers who buy to clothes or other retail goods. Frequent users were more likely to be in financial difficulty and to have missed a payment of a bill or credit commitment, the FCA said.
Persons: Toby Melville, Clearpay, Sheldon Mills, Huw Jones, Tomasz Janowski Organizations: FCA, Financial, Authority, REUTERS, Bank of, PayPal, QVC, Thomson Locations: London, Britain, Bank of England
☆ Britain sets out legislation to regulate buy-now-pay-later credit
  + stars: | 2023-02-13 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
LONDON, Feb 13 (Reuters) - Britain on Tuesday will set out draft legislation to regulate "buy now pay later" credit, saying the sector posed potential harm to consumers without thorough affordability checks. BNPL companies are largely unregulated and typically offer on-the-spot interest-free short-term loans that spread payments for retail goods like clothing. The finance ministry said it will launch a public consultation on Tuesday on legislation to regulate BNPL, giving the Financial Conduct Authority (FCA) powers to authorise operators and their activities. Last February, the FCA told BNPL operators Clearpay, Klarna, Laybuy and Openpay to change their contracts after identifying potential harm to customers. It had to use consumer rights law pending the new legislation the ministry was announcing on Monday.
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