Apple Pay is now integrating Klarna, a buy now pay later (BNPL) service, expanding checkout options just months after ceasing its own Pay Later service.
The addition of Klarna allows users to make purchases through Apple Pay in four interest-free installments, enhancing the service's appeal amidst rising BNPL popularity.
Despite the convenience of BNPL services like Klarna, surveys highlight significant concerns about potential overspending, raising awareness of financial impacts.
Recent rulings from the Consumer Financial Protection Bureau classify BNPL services as credit card providers, thereby increasing their accountability in disputes and refunds.
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