West Ham United announce tie up with Klarna

West Ham United have announced a tie up with buy now, pay later giant Klarna, marking the first partnership of its kind from a Premier League football club.

The deal means that West Ham supporters will be able to use Klarna on all orders purchased from the UK and utilise the ‘pay in 30 days’ or ‘pay in three’ options when checking out at the officialwesthamstore.com store.

“Your first instalment will be collected when your order is confirmed and instalments two and three are scheduled 30 and 60 days later, respectively,” the club announced in a press release.

“There’s no interest or fees and no impact to your credit score.”

READ MORE: PayPal watches BNPL service soar 400% over Black Friday

While the news may be welcomed for West Ham supporters seeking to purchase club merchandise this festive season and beyond, regulators are concerned about the knock-on effects.

Barclays surveyed 2,000 UK consumers who had previously used BNPL services, with 39 per cent per cent admitting they lacked a full understanding of how the products worked.

A further 35 per cent stating they’re more likely to use BNPL as the cost of everyday living increases.

This could lead to a growing number of debt issues unless regulation of the space comes into play, Barclays warned.

A worrying 36 per cent of consumers surveyed said they used BNPL products to buy more than they are able to afford.

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