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Klarna's losses double as more buy now, pay later customers struggle with loans | Buy now, don't pay later
Klarna's net losses for the first quarter reached $99 million, almost double the $47 million it lost during the same period a year earlier.
It's a problem being faced by industry giant Klarna, which saw its net losses more than double in the first quarter as more customers struggled to pay back their loan installments. The survey also showed that a quarter of BNPL users said they used the loans to buy groceries amid rising supermarket costs and marking a 14% increase compared to a year ago. The good news for humans is that Klarna has started hiring them again after its CEO recently admitted AI customer service chatbots offered a "lower quality" output.
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