Become an InsiderBuy now pay later service Klarna has had four of its adverts banned by the UK's Advertising Standards Authority .
Klarna, worth $10.65 billion, saw its transactions increase by 43% year-on-year for the first nine months of 2020 during Covid-19. Buy now pay later service Klarna has been rapped by the UK's advertising watchdog over four ads posted by Instagram influencers earlier in 2020. Klarna allows online shoppers with major retailers such as Sweaty Betty and Ralph Lauren to pay for items in installments, or in full at a later date. It claims to have 90 million customers worldwide, and 12 million monthly active users on its app. The companyThe four ads were posted by influencers Bradley Harper, Claire Menary, Aisha Master, and Yasmin Fatollahy through the spring, when the UK was in lockdown.
A Klarna spokesperson said the firm was "disappointed" by the ASA's decision and that the four posts had been removed.