Observed Signal · Dec 5, 2022 · Regulation · Source: Trending Topics · Impact: 2/5 · Sentiment: Neutral
EU Parliament Approves New Rules to Curb BNPL Debt
On 2 December 2022, the European Parliament agreed on new consumer credit rules aimed at curbing debt from online loans and Buy Now Pay Later (BNPL) services. The rules extend existing consumer protections to credits below €200, which previously served as a loophole for fast online credit, and introduce strict creditworthiness checks plus warning labels in shopping portals, similar to cigarette pack warnings. The EU Council still needs to approve the directive, considered a formality. Klarna, the Swedish BNPL provider, said it welcomes regulation and already performs strict credit checks on every purchase. Klarna also stated its default rate is about one percent and that only three percent of its German invoices are paid via installment purchase. The new disclosure rules are expected to affect how BNPL services are promoted and integrated into shopping apps.
EU-wide regulation of BNPL credit will change how payment services are marketed and integrated in e-commerce checkout, with moderate but not core impact on the AdTech industry.
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Key Takeaways & Evidence Grounding
- EU Parliament agreed on new consumer credit rules that extend protections to online loans under €200.
- The rules require thorough creditworthiness checks and warning labels in shopping portals, inspired by cigarette pack warnings.
- The directive still needs approval from the EU Council, seen as a formality.
- Klarna publicly supports BNPL regulation and says it carries out strict credit checks before every purchase.
- Klarna says its default rate is about 1% and only 3% of German invoices are paid via installment purchase.
Connected Companies & Entities
1 Entity mapped“In den letzten Jahren haben BNPL-Anbieter, allen voran Klarna aus Schweden, für viel Aufregung gesorgt....”
Ontology Mapping & Concepts
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