Deliveroo is an internet-based food delivery service that enables customers to place orders for meals from restaurants using their mobile devices or computers.
Deliveroo, a UK based meal delivery business, inquires, “Do consumers want to pay for their burritos in installments?”
The Mirror, a UK based paper reported that the company is now offering ‘buy now, pay later’ (BNPL) services through Klarna. Consumers can pay immediately, in full within 30 days, or in 3 installments over 60 days for orders of at least 30 pounds.
BNPL food purchases are popular with consumers. PYMNTS report “The New Credit Model: Why Financially Concerned Consumers Still Want Alternatives to Conventional Credit,” a collaboration with Sezzle, found that 65% of consumers who use or may use BNPL options are more likely to shop at stores that offer them, and 21% are interested in using them to pay for groceries.
Financial experts, including celebrity journalist Martin Lewis, have been outspoken in their opposition to the move.
U.S. and British regulators plan to crack down on the expanding buy-now, pay-later industry.
One of the most prominent brands in the layaway industry is Klarna. This Swedish fintech lets customers pay for items in installments over a period of time that best suits their budgets.
Despite having made tremendous progress and reaching a massive valuation in 2021, Klarna announced back in May that it was laying off 10% of its workforce due to rising inflation, a volatile stock market, and the ongoing conflict in Ukraine. 2022 has been rough on everyone.