Episode 7: Is Buy Now, Pay Later a Debt Sentence?

Buy Now, Pay Later (BNPL) is everywhere — but is it actually increasing consumer debt?

In this episode of TapHere, host Corey Goldman sits down with Steven Clarke, Head of Klarna Canada, to explain how Buy Now, Pay Later really works, why BNPL is often misunderstood, and how Klarna approaches payments, consumer risk, and responsible spending in Canada.

Steven breaks down how Klarna’s Buy Now, Pay Later model differs from credit cards and payday loans, including Klarna’s transaction-by-transaction underwriting, zero-interest installment options, and built-in controls designed to prevent consumers from taking on excessive debt. They also explore how BNPL fits into the broader fintech and payments ecosystem, and why Klarna is increasingly viewed as more than just a payment method.

The conversation covers:

• What Buy Now, Pay Later actually is — and what it isn’t

• BNPL vs credit cards: key differences in debt and interest

• How Klarna underwrites risk and promotes responsible payments

• Real data on BNPL usage, repayment behavior, and consumer debt

• Why Canada’s banking and payments system lags other markets

• How Klarna creates value for consumers, retailers, and ecommerce

Whether you’re a consumer, merchant, fintech professional, or policymaker, this episode offers a clear, data-driven look at Buy Now, Pay Later in Canada and the role BNPL is playing in the future of digital payments.

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Remember: this is educational, not financial or legal advice. Always do your own research and talk to a licensed professional before making investment decisions and before sending payments online - Remember: Verify first, then trust.