Buy now, pay later is a good idea? But only if you live in the UK or US.
I recently saw a news that Klarna is going to cooperate with Apple Pay.
UK and US users can choose Klarna instalment payments directly with Apple Pay in-store.
Sounds cool, right?
But what does this have to do with us?
What is Klarna and why is it suddenly so popular?
Simply put, Klarna is a “buy now, pay later” platform.
When you buy something, you don’t have to pay immediately. You can choose to:
- Pay after 30 days
- Pay in 3 or 4 installments
- Monthly installments
Sound like a credit card?
It’s similar, but the threshold is lower and the review is simpler.
The problem is that these are all prepared for European and American users.
Chinese users are being treated differently again
Every time I see this kind of news, I have a familiar feeling:
This is another “advanced technology” that we can see but cannot use.
It’s not because of poor technology, it’s because:
- Service area restrictions
- Incompatible payment systems
- Different regulatory policies
- Low degree of localization
The result is that we can only watch the fun online.
The truth about the BNPL model: It looks good, but there are actually pitfalls
Buy now, pay later does solve some problems:
- Relieve financial pressure
- Increase purchasing power
- Improve shopping experience
But there are also many problems:
Hidden debt trap
Many people forget to pay back the money after using it for a while.
When the 30 days were up, I found my wallet was empty and I had to continue borrowing.
Inducement of excessive consumption
It’s so easy to buy things and it’s so easy to lose control.
I originally wanted to buy one, but ended up buying a bunch.
credit risk
Late payments will affect your credit history.
In the United States, the consequences are severe.
The real needs of Chinese users: not installment payments, but payment freedom
To be honest, our needs are quite different from those of European and American users.
We don’t want a complicated installment plan.
All we want is to be able to complete cross-border payments normally.
Want to shop overseas? Your bank card keeps getting declined. Want to subscribe to Netflix? Alipay isn’t supported. Want to buy games? WeChat Pay won’t work. Want to top up your app? All sorts of restrictions.
This is the real pain point.
Solution: Virtual cards are more practical than BNPL
Instead of envying others’ Klarna, it is better to solve your own practical problems.
PiKaBao virtual credit card was created to solve these pain points:
True payment freedom
- Supports 99% of websites and platforms worldwide
- No payment will be rejected due to regional restrictions
- Overseas shopping, subscriptions, and top-ups are all available
- Activate the card in seconds and use it immediately
A safer way to consume
- Separate card number for each payment
- No fear of information leakage
- Freeze and thaw at any time
- Consumption records are clear at a glance
Click to activate the PiKaBao virtual credit card
Why are virtual cards more suitable for Chinese users than BNPL?
Lower threshold
Klarna requires a credit check, but a virtual card doesn’t. Klarna has regional restrictions, but a virtual card is valid worldwide.
Less risk
BNPL is prone to overspending, and virtual cards can only be topped up as needed. BNPL can affect your credit history, while virtual cards do not.
More flexible to use
BNPL can only be paid in installments, while virtual cards can be used however you want. BNPL has platform restrictions, while virtual cards can be used anywhere.
Don’t wait for “internationalization” anymore, there are better options now
Every time I see this kind of foreign payment innovation, someone always asks:
“When will it be available in China?” “When will we be able to use it?”
Don’t wait, there’s a better solution.
Virtual credit cards not only solve cross-border payment problems, but also avoid the pitfalls of BNPL.
The inspiration of Klarna model: the direction of payment innovation
What does the popularity of Klarna mean?
Users need more flexible and convenient payment methods.
But this demand manifests itself differently in China:
- We need to break through various payment barriers
- We value the convenience and security of payment more
- We care more about practical solutions than concepts
Real Payment Innovation: Solving Real Problems
Klarna’s success lies in solving the real pain points of European and American users.
So what are the real pain points of Chinese users?
Various restrictions and inconveniences in cross-border payments.
PiKaBao virtual credit card is the solution to this pain point:
- Activate the card in 3 minutes
- Globally applicable
- Transparent rates
- Easy to operate
Try the PiKaBao virtual credit card now
In conclusion: Don’t envy others, solve your own problems
The partnership between Klarna and Apple Pay is truly impressive.
But for Chinese users, this is just “someone else’s child”.
Instead of being envious, find a solution that suits you.
Virtual credit cards may not have as many bells and whistles as Klarna.
But it solves your actual problem:
- Overseas purchases will not be rejected
- Subscription service is available at will
- Game recharge is credited to your account within seconds
- Payment security is guaranteed
Isn’t this much better than drooling over other people’s “benefits”?
After all, a tool that works is a good tool.
What do you think?