By Amelia Isaacs on Friday 14 October 2022
Sebastian Siemiatkowski took to Twitter to shut down the Money Saving Expert’s criticism of BNPL.
Klarna made waves this week when Deliveroo added ‘buy now, pay later’ as a payment option for your next takeaway.
The move to allow customers to split their cheeky Nando’s into several instalments was met with mixed reactions, with experts calling the move ‘irresponsible’.
Martin Lewis, Money Saving Expert and “national treasure”, quickly took to Twitter to call out Deliveroo.
“Dear @Deliveroo do you really need pump debt as a way to pay for takeaways?” he wrote.
“Buy Now Pay Later may seem innocuous but it is 1) Not yet regulated 2) Debt, even if done right its (sic) 0%”
He wrote firmly that borrowing should only be “if NEEDED” for one-off planned and budgeted purchases.
Klarna’s CEO Sebastian Siemiatkowski hit back at Lewis, pointing out that Deliveroo accepts credit cards with high interest rates, so why shouldn’t it accept Klarna?
“Interesting @MartinSLewis! @Deliveroo should accept credit cards with up to 54% interest…But not Klarna that offers debit and interest free credit?” Siemiatkowski wrote.
The Tweet elicited a mixed response, with some users agreeing that BNPL provides a more cost effective option, and others warning him to choose his battles carefully.
“Being the lesser of two evils isn't the devastating gotcha you think it is,” one user wrote.
Siemiatkowski doubled down on his stance, tweeting again today and asking a second time if Lewis makes money selling credit cards.
“Good safe advice? Don't use debit=money you have,and sometimes BNPL at 0% no late fees,” he wrote.
“Use credit cards,borrow against all spending+invest the money. Be lured into 54% revolving?”
Lewis has yet to respond to Siemiatkowski on Twitter.
21 March 2023
Daniel Lanyon
