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[EU] Apparently from 20 Nov, pay later apps need to view past purchases and income to function (lemmy.dbzer0.com)
submitted 2 days ago by to c/privacy@lemmy.ml
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I used to always prefer to pay later (with no interest), cuz i heard it would prove schufa score but I just received an email from klarna, how in the future they will need to view all my purchases history to make sure it fits my budget and income.

What the heck? I thought EU was better for privacy. If we don't buy things on credit, we get a bad credit score, and if we do, then we have to sell our data ?

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[–] 3 points 1 day ago (2 children)

Is credit scores a thing in EU? In Denmark the banks only look at your disposable income and savings in order to grant a loan.

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  • [–] [S] 1 point 1 day ago (1 child)

    Kinda. In germany we have schufa, and its not just for getting a loan. Every landlord here asks for it if you want to rent an apartment or even some WG (apartment sharing).

    I think if a bank were to look into my income and savings, that's wouldn't be a problem. I bet they get a lot scruitny from authorities. But companies like klarna and paypal that offers "pay later in 30 day with 0% interest", don't. This option was great way to slowly increase your schufa score.

    My concern is that, this law essentially gives these companies legitimate grounds to collect this data. Which will eventually be used in dynamic pricing. I think kaufland online is already doing dynamic pricing (annectdotal evidence).

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