EXCLUSIVE: Klarna Breaks Silence on Dutch Debt Collection Registry
Hey FinTech Fanatic!
Dutch Minister says Klarna is not registered in the national debt collection registry and may be in breach of regulations.
New parliamentary responses in the Netherlands are raising questions around debt collection practices linked to Buy Now, Pay Later providers, following reporting by Follow the Money NL.
According to the minister, Klarna falls under the Dutch Debt Collection Quality Act, meaning it is required to register in the national debt collection registry.
The discussion touches a broader nerve. Consumer protection. Regulatory consistency. And how BNPL should be supervised, especially given its scale and popularity among younger consumers.
The debate now moves toward potential supervisory action and how rules should apply across the industry to ensure equal standards, effective consumer protection, and responsible BNPL business models...
Exclusive statement from Klarna:
“We support the Wki and its goal of fair and transparent debt collection. As Klarna doesn't work directly with debt collection, we needed time to properly understand how the law applies to us...
But we recognise this has taken too long and we should have moved faster. Our application for the Wki register is now ready, and we're committed to finalising this promptly,” a Klarna spokesperson said.
What do you think? Should BNPL providers be treated the same as traditional debt collectors when it comes to registration and oversight?
I’ll be watching closely how this moves forward... and thanks for sharing this news earlier, Don Ceder.
More stories and what this could mean for BNPL regulation ahead 👇 I'll be back soon with what's shaking up the FinTech industry. Stay tuned!
Cheers,
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🇳🇱 Dutch Minister states Klarna is not registered in the debt collection registry and may be in breach of regulations. Parliamentary responses suggest Klarna falls under the Dutch Debt Collection Quality Act, which would require such registration, prompting questions about whether its activities legally qualify as debt collection.
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