Buy now, pay later service Klarna has seen a boom in business during Britain’s lockdown.
That includes a 105% increase in the number of running shoes purchased using its services, a 60% hike in beauty product sales and “significant uplift” in purchases of bicycles and cycling accessories.
“We saw our volumes increase during that period just reflecting the increase in digital transactions generally,” Luke Griffiths, Klarna’s vice president, told BBC Radio 5 Live’s Wake Up To Money.
However, as sales increased but more shoppers faced the financial uncertainty of lockdown, the company did tighten its rules on lending.
“Obviously with people’s financial circumstances changing during this period, we have constantly reviewed our policies around the type of customer that we accept,” Mr Griffiths said.
He says the firm is now only accepting customers who it believes will and can repay on time.
As a result, he does not believe Klarna