from Hacker News

Bloomberg: Millennials and Gen Z Are Hooked on a $46B Shopping App

by k1rcher on 9/4/21, 1:46 AM with 2 comments

  • by colesantiago on 9/4/21, 2:18 AM

    It's called Klarna. It's not just a shopping app, its a bank.

    > Search for Klarna on TikTok and you’ll find young people making light of the debt they’ve racked up using the wildly popular “buy now, pay later” app.

    Just because you can 'buy it now' doesn't mean you can 'afford it' later.

    I can see Klarna becoming the biggest debt collector in the industry since they cleverly targeted their service to an audience and a new generation that loves instant gratification and can't afford to pay back the debt.