Tech savvy Millennials break with payments tradition, Klarna research

Brits – and Millennials in particular – are increasingly using new methods to manage their money, according to research by buy now, pay later specialist Klarna involving 2,000+ people.

Technology is one of the most important ways they do this, with 41% of Brits saying that it allows them to keep track of their spending in real-time and 42% stating it enables better oversight of their overall finances.

Also of interest: Ant Financial Group invests in Klarna

One in five Millennials say that being able to manage their money anytime, anywhere, is most likely to drive their loyalty towards a financial services provider. They are also the generation that is most likely to want flexible payment options, with 18% claiming that these increase their trust and loyalty to a provider, compared to 13% of older generations.

The findings come as Klarna launches its first Consumer Council next Tuesday (10th March). Further info on that here.