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Buy-now-pay-later deals have exploded in popularity during the pandemic, prompting fears of a looming debt crisis among the young and unemployed. Some 9.5m people now pay using Klarna, a Swedish lender that has signed up 2.5m customers since the start of March.
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Pay-later deals have become commonplace at online retailers from Marks & Spencer to Topshop but have also started being offered at hairdressers, dentists and gardening shops, as well as companies selling addictive substances online, since the start of the pandemic.
https://www.thetimes.co.uk/article/surge-in-pay-later-deals-stokes-fears-of-debt-crisis-lksll9d22
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