Klarna CEO Discusses Consumer Spending Habits and Credit Card Interest Rates.

Klarna CEO Sebastian Siemiatkowski compares consumer spending between Buy Now, Pay Later lenders and credit card companies. He argues that BNPL lending can promote irresponsible spending, but notes that it may be a better form of credit than traditional credit cards, especially for those who use credit cards and revolve balances with high interest rates. Siemiatkowski acknowledges the potential downsides of credit but believes BNPL lending offers a fixed installment and 0% interest, leading to a better outcome for consumers.