Buy now, pay later (BNPL) companies such as Affirm, Afterpay, Klarna, PayPal, Sezzle, and Zip offer customers no-interest, pay-in-four-installments loans.

Sweedish fintech company Klarna has been around since 2005, but it didn't become the nearly ubiquitous e-commerce presence it is today until the Covid pandemic.

Today, Klarna's buy now, pay later platform has rocketed to become one of Europe's most valuable private tech companies.

Related: New rules could put 'buy now, pay later' loans on life support

The company was valued at about $14.6 billion last year.

While Klarna has waffled on plans to go public in recent months, there are reports that it is aiming for a U.S. initial public offering as soon as September.

FICO wants BNPL loans to affect credit scores

In June, Fair Isaac Cor

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