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Given what Klarna is, which is basically low friction financing taking advantage of people with bad impulse control^1, I suspect the LLM will do fine because li

Given what Klarna is, which is basically low friction financing taking advantage of people with bad impulse control^1, I suspect the LLM will do fine because like... what are you really doing here, as a Klarna customer service person anyway? I'd imagine the lions share of their calls/chats consist of one of the following scenarios: - Yes you do actually have to pay this payment - Yes we can arrange to pay off the full balance immediately - Some kind of potential fraud - A problem with the ordered item, which gets redirected to the seller immediately [1]: This is not a judgement on the people, to be clear. I think shit like Klarna is frankly disgusting and blatantly taking advantage of people susceptible to impulsive purchases.

tagyro 3y ago
You have my vote! Klarna, and other BNPL's (Buy Now, Pay Later), are predatory and misleading. Source: https://www.klarna.com/us/customer-service/what-is-financing-and-how-does-it-work/ https://www.klarna.com/us/customer-service/what-is-financing...
- rad_gruchalski 3y ago
  I use Klarna Pay Later all the time for planned purchases. It's awesome. I pay only when an item is delivered, the state is verified, and I'm keeping it. If I have/decide to send the thing back (a couple of occasions), I just let them know that the return is on the way. No money changes hands.
kristofferR 3y ago
I don't agree, I think Klarna is awesome. Klarna BNPL is like a CC, good for those who can handle it. It doubles your credit period (so you get 30 days Klarna + 30 days Credit Card) for free, leading to higher returns if you believe you can handle credit profitably. Not only that, but it's also quicker to pay with than CC (No 3DSecure) and you get all your ordered items in a usable list. Way more secure than giving my credit card information freely away to random webshops too. If you don't want BNPL you can pay right away through Klarna anyway, it's like Paypal in that regard. They don't seem predatory at all to me TBH, if they were, they wouldn't have autopay and send you so many notifications if you don't have that enabled. They don't even charge me anything for semi-late payment of a few days late.
- ToucanLoucan 3y ago
  So what about the people who can't handle it who are nevertheless offered it, can't pay and end up in lifetime debt? That's just the consequences of "not being able to handle credit?" A life sentence on the debt treadmill?
  - kristofferR 3y ago
    Well, yeah, I agree that debt sucks for those who can't handle it, but I'm not sure what your prescription to end credit/debt would be. It seems you are criticizing capitalism in itself more than Klarna specifically, Klarna seems way less predatory than most credit cards IMO.
    - jstarfish 3y ago
      We're all about making the world Safe these days. If we can criminalize people saying mean things about minority groups, we should be able to stop lenders (and casinos...) from financially-exploiting the minority group of irresponsible debtors. We have to save all people from the consequences of their own decisions in the name of safety. Klarna is nobody's first option and for bad debtors is more predatory than even my worst card. Late fees are charged per transaction. If you go on a buying spree and are late with your payments, you get the financial fucking of a lifetime in a mere matter of months. It's like having 12 credit cards and missing payments on all of them. The individual late fee is lower than a credit card, but they make up for it by driving reckless purchasing.
      - ToucanLoucan 3y ago
        It's wild to me that you went from: > We have to save all people from the consequences of their own decisions in the name of safety. To then go on to explain why Klarna is problematic: > Klarna is nobody's first option and for bad debtors is more predatory than even my worst card. Late fees are charged per transaction. If you go on a buying spree and are late with your payments, you get the financial fucking of a lifetime in a mere matter of months. It's like having 12 credit cards and missing payments on all of them. > The individual late fee is lower than a credit card, but they make up for it by driving reckless purchasing. The "their own decisions" in your statement there is incredibly load bearing. Is it their decision? If you take someone with a blend of neurodivergence or even just lack of experience or education in financing, and present to them a way to get a thing they really want, today, with the click of a button, is that their decision? Does how informed they are about that decision, its ramifications, it's consequences matter? If people received a broad and sensible financial education as part of K-12, I might agree with you, but they don't, at least not universally. I didn't know shit about credit cards when I turned old enough to apply for one, apart from "you had to pay it back," and "it's not free money," which like, no shit. Didn't stop me from filling it right up and ruining my credit score during college. I didn't know a fucking thing about interest, or how to read the financial statements, how one $2,000 laptop would end up costing me close to $5,500 later on. And that's a credit card, which is at least some work to get. A Klarna financing arrangement doesn't take shit. This kind of argument is so frustrating because it's always opposed by the same sort of person for whom the current setup works well, and it's like, hey man, that's great. Good for you. Look at all your agency, I'm proud of you for making all the right choices. But what about everyone else who didn't? Is everyone who's not as savvy as you deserving of a financial ass-fucking because they never got taught how interest works?

tagyro 3y ago

You have my vote! Klarna, and other BNPL's (Buy Now, Pay Later), are predatory and misleading. Source: https://www.klarna.com/us/customer-service/what-is-financing-and-how-does-it-work/ https://www.klarna.com/us/customer-service/what-is-financing...

rad_gruchalski 3y ago
I use Klarna Pay Later all the time for planned purchases. It's awesome. I pay only when an item is delivered, the state is verified, and I'm keeping it. If I have/decide to send the thing back (a couple of occasions), I just let them know that the return is on the way. No money changes hands.

kristofferR 3y ago

I don't agree, I think Klarna is awesome. Klarna BNPL is like a CC, good for those who can handle it. It doubles your credit period (so you get 30 days Klarna + 30 days Credit Card) for free, leading to higher returns if you believe you can handle credit profitably. Not only that, but it's also quicker to pay with than CC (No 3DSecure) and you get all your ordered items in a usable list. Way more secure than giving my credit card information freely away to random webshops too. If you don't want BNPL you can pay right away through Klarna anyway, it's like Paypal in that regard. They don't seem predatory at all to me TBH, if they were, they wouldn't have autopay and send you so many notifications if you don't have that enabled. They don't even charge me anything for semi-late payment of a few days late.

ToucanLoucan 3y ago
So what about the people who can't handle it who are nevertheless offered it, can't pay and end up in lifetime debt? That's just the consequences of "not being able to handle credit?" A life sentence on the debt treadmill?
- kristofferR 3y ago
  Well, yeah, I agree that debt sucks for those who can't handle it, but I'm not sure what your prescription to end credit/debt would be. It seems you are criticizing capitalism in itself more than Klarna specifically, Klarna seems way less predatory than most credit cards IMO.
  - jstarfish 3y ago
    We're all about making the world Safe these days. If we can criminalize people saying mean things about minority groups, we should be able to stop lenders (and casinos...) from financially-exploiting the minority group of irresponsible debtors. We have to save all people from the consequences of their own decisions in the name of safety. Klarna is nobody's first option and for bad debtors is more predatory than even my worst card. Late fees are charged per transaction. If you go on a buying spree and are late with your payments, you get the financial fucking of a lifetime in a mere matter of months. It's like having 12 credit cards and missing payments on all of them. The individual late fee is lower than a credit card, but they make up for it by driving reckless purchasing.
    - ToucanLoucan 3y ago
      It's wild to me that you went from: > We have to save all people from the consequences of their own decisions in the name of safety. To then go on to explain why Klarna is problematic: > Klarna is nobody's first option and for bad debtors is more predatory than even my worst card. Late fees are charged per transaction. If you go on a buying spree and are late with your payments, you get the financial fucking of a lifetime in a mere matter of months. It's like having 12 credit cards and missing payments on all of them. > The individual late fee is lower than a credit card, but they make up for it by driving reckless purchasing. The "their own decisions" in your statement there is incredibly load bearing. Is it their decision? If you take someone with a blend of neurodivergence or even just lack of experience or education in financing, and present to them a way to get a thing they really want, today, with the click of a button, is that their decision? Does how informed they are about that decision, its ramifications, it's consequences matter? If people received a broad and sensible financial education as part of K-12, I might agree with you, but they don't, at least not universally. I didn't know shit about credit cards when I turned old enough to apply for one, apart from "you had to pay it back," and "it's not free money," which like, no shit. Didn't stop me from filling it right up and ruining my credit score during college. I didn't know a fucking thing about interest, or how to read the financial statements, how one $2,000 laptop would end up costing me close to $5,500 later on. And that's a credit card, which is at least some work to get. A Klarna financing arrangement doesn't take shit. This kind of argument is so frustrating because it's always opposed by the same sort of person for whom the current setup works well, and it's like, hey man, that's great. Good for you. Look at all your agency, I'm proud of you for making all the right choices. But what about everyone else who didn't? Is everyone who's not as savvy as you deserving of a financial ass-fucking because they never got taught how interest works?