Klarna’s “buy now, play later” scheme is expected to expand to Berlin during early 2020, including a new tech hub which will house more than 500 members of staff. The new tech hub will encompass a 7’400 square metre site in a repurposed car garage situated in the centre of Berlin’s thriving technology scene in Mite. In addition, the workforce for its new tech hub will be five times the size of older sites with employees primarily focusing on product, engineering and commercial growth.
J&P comments
Despite Klarna’s global expansion there is great concern over the rise of “buy now, pay later platforms” which is associated with rising credit debt and financial stress to deferred payment schemes. According to studies, 56% of millennials said that buy now pay later programmes have encouraged them to spend money that they can’t afford, and 27% said that they have experienced financial stress after it.
