Business
Afterpay rejects Klarna on need for customer credit checks – The Australian Financial Review
Afterpay says checking customer credit files for every transaction, like Klarna is doing, could make it more expensive for customers to access credit in the future.
“The credit reporting system is designed to help lenders, not consumers. A lender that does a credit check for each and every transaction is not helping the customer, they are potentially negatively impacting that person’s credit history.
Like Klarna, which is a regulated bank in Europe and is keen for the local industry to take on board its experience from offshore, Zip also conducts extensive credit file checks of new customers. But both Zip, and Klarna abroad, also offer traditional credit-s…
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