London
After a year 2020 marked by the explosion of the use of split payment in the United Kingdom, 2021 was set to be the year of regulation of this sector dominated by companies such as Klarna, Clearpay and Laybuy.
In February 2021, the report published by Christopher Woolard, the former acting director of the Financial Conduct Authority (FCA, the body responsible for regulating the financial sector across the Channel), caused a stir.
He showed that one in ten customers was unable to honor the repayments of these interest-free loans.
And added that at the macroeconomic level, the explosion of this unregulated credit also posed a considerable risk to the proper functioning of the banking system.
“The report shows that it is relatively easy to accumulate 1000 pounds of debt without either the credit reference agencies or the traditional credit organizations being informed of it”
had reacted at the time the secretary of state. to the Treasury, John Glen.
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Klarna, a new giant in split payment in France
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