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Klarna changes its AI tune and again recruits humans for customer service

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Re: Klarna changes its AI tune and again recruits humans for customer service

#81

Post by firesteelrain »

Freak_NL wrote: post #45
nikanj wrote: post #40

Earlier quoted context omitted.

Shopkeepers do want it, because it expands their market from those with funds to also those without. Klarna carries the lending risks, for the shopkeeps it’s a risk-free customer base

In the Netherlands no less than twenty trade associations sent letters to the government on behalf of their shopkeeper members urging legal action to prevent Klarna from coming. Part of it is that Klarna is fairly expensive compared to the common payment methods (i.e., cash and debit cards). Klarna charges a whopping 4% of the purchase price, whereas using a debit card (perhaps 95% of payments in physical shops) cost…

How is Klarna any different than Affirm or its precursors like Bill Me Later which later became PayPal Credit?

Re: Klarna changes its AI tune and again recruits humans for customer service

#82

Post by gruez »

losteric wrote: post #76
ericmay wrote: post #66

Earlier quoted context omitted.

> But there is also the realisation that a customer who uses BNPL today, won't be coming back next month when they are paying off their loan. I don’t think that’s a good argument. For shops and customers that utilize BNPL you are not typically making routine purchases at the shop anyway because the minimums are $50 or more (merchants can negotiate those terms with the provider) but the base tends to be around $50. If…

How does bnpl increase sales? My intuition is it brings in a slight bump now, at the cost of longer term. The customer can either wait N months to buy the bike cash, or buy it now and pay interest for the next K months. - In the first scenario, customers can quickly save up and return for accessories/etc. - in the latter, the customer is playing XX% on top of the bike purchase which ultimately reduces the purchases t…

>How does bnpl increase sales?

Same way credit card increase sales, such that stores are willing to eat the higher interchange rate it costs compared debit.

Re: Klarna changes its AI tune and again recruits humans for customer service

#83

Post by gruez »

ToucanLoucan wrote: post #75
nikanj wrote: post #40

Earlier quoted context omitted.

Shopkeepers do want it, because it expands their market from those with funds to also those without. Klarna carries the lending risks, for the shopkeeps it’s a risk-free customer base

You know some businesses are led by people not board rooms, and especially businesses that consider themselves part of a community, and sell to their neighbors, don't want said neighbors to be rat-fucked by exploitative financial products, even if it will possibly benefit them at no risk. This is generally called "being a person with a soul."

>businesses that consider themselves part of a community, and sell to their neighbors, don't want said neighbors to be rat-fucked by exploitative financial products, even if it will possibly benefit them at no risk.

>This is generally called "being a person with a soul."

Wholesome. So the hole in the wall restaurant that only takes cash was actually trying to save its customers from a lifetime of credit card debt, rather than saving the 3% interchange fee and possibly tax evade?

Re: Klarna changes its AI tune and again recruits humans for customer service

#84

Post by charcircuit »

ToucanLoucan wrote: post #75
nikanj wrote: post #40

Earlier quoted context omitted.

Shopkeepers do want it, because it expands their market from those with funds to also those without. Klarna carries the lending risks, for the shopkeeps it’s a risk-free customer base

You know some businesses are led by people not board rooms, and especially businesses that consider themselves part of a community, and sell to their neighbors, don't want said neighbors to be rat-fucked by exploitative financial products, even if it will possibly benefit them at no risk. This is generally called "being a person with a soul."

The board of a company are people.

Re: Klarna changes its AI tune and again recruits humans for customer service

#86

Post by ericmay »

trollbridge wrote: post #77
ericmay wrote: post #66

Earlier quoted context omitted.

> But there is also the realisation that a customer who uses BNPL today, won't be coming back next month when they are paying off their loan. I don’t think that’s a good argument. For shops and customers that utilize BNPL you are not typically making routine purchases at the shop anyway because the minimums are $50 or more (merchants can negotiate those terms with the provider) but the base tends to be around $50. If…

Merchants really do not want a 4% decrease in their gross revenue.

Yes they do, because they don’t have a decrease in gross revenue, but instead a higher gross revenue and smaller margins. But that results in higher profit for the merchant so they go with it.

Re: Klarna changes its AI tune and again recruits humans for customer service

#87

Post by ericmay »

losteric wrote: post #76
ericmay wrote: post #66

Earlier quoted context omitted.

> But there is also the realisation that a customer who uses BNPL today, won't be coming back next month when they are paying off their loan. I don’t think that’s a good argument. For shops and customers that utilize BNPL you are not typically making routine purchases at the shop anyway because the minimums are $50 or more (merchants can negotiate those terms with the provider) but the base tends to be around $50. If…

How does bnpl increase sales? My intuition is it brings in a slight bump now, at the cost of longer term. The customer can either wait N months to buy the bike cash, or buy it now and pay interest for the next K months. - In the first scenario, customers can quickly save up and return for accessories/etc. - in the latter, the customer is playing XX% on top of the bike purchase which ultimately reduces the purchases t…

Your intuition is wrong. As a simple example, during the months of saving in cash, by the time they have the cash, if they even save at all, they have more options for purchase. So maybe they go with the original merchant, maybe they don’t. Maybe they buy something else.

Instead merchants prefer to lock in a sale right then and there, and they pay for that service.

Re: Klarna changes its AI tune and again recruits humans for customer service

#88

Post by dcsan »

Avicebron wrote: post #64
rchaud wrote: post #53

Earlier quoted context omitted.

This is the primary positioning tactic used across the startup industry . Uber isn't a taxi app, it's actually the "future front end for millions to access autonomous transport". Doordash isn't a delivery app, it's an "on-demand logistics" platform. Similarly, Klarna isn't a shady payday loan company, it's an "AI-first consumer finance play".

> "AI-first consumer finance play" In a more civilized time, saying this was your plan would get you chucked feet-first into a wood chipper.

The addition of "feet first" made this much more evocative!

Re: Klarna changes its AI tune and again recruits humans for customer service

#89

Post by tedeh »

DanielHB wrote: post #65
torben-friis wrote: post #55

I went through klarna’s interview process some time ago. I had to go through both reasonable and weird steps, including IQ tests for some reason. I passed them all, and then I was ghosted, and upon reaching out I was met with months of excuses asking me to wait (the recruiter is on vacation, we’re waiting for the new budget to be approved, “I personally forgot to reply”, and a few others). I eventually stopped reachi…

Yes they are, a few years ago once got a scuffle with the Swedish tax agency because they were abusing some tax loopholes. The tax agency came in with the bill and they just immediately "layoff" 90% of the contractors working there (a good chunk of the workforce). All so their quarterly statements wouldn't look bad for the stock market. Klarna is the prime example of toxic public companies

Klarna hasnt even gone public yet...

Re: Klarna changes its AI tune and again recruits humans for customer service

#90

Post by ToucanLoucan »

gruez wrote: post #83
ToucanLoucan wrote: post #75

Earlier quoted context omitted.

You know some businesses are led by people not board rooms, and especially businesses that consider themselves part of a community, and sell to their neighbors, don't want said neighbors to be rat-fucked by exploitative financial products, even if it will possibly benefit them at no risk. This is generally called "being a person with a soul."

>businesses that consider themselves part of a community, and sell to their neighbors, don't want said neighbors to be rat-fucked by exploitative financial products, even if it will possibly benefit them at no risk. >This is generally called "being a person with a soul." Wholesome. So the hole in the wall restaurant that only takes cash was actually trying to save its customers from a lifetime of credit card debt, ra…

I mean the hole in the wall burger joint near me that I love openly charges 3% more when you pay with a credit card for the exact reason of not wanting to give away 3% of their sales figure to a credit card processor, since said credit card processor didn't cook the burger. And you can feel how you feel about that, I personally appreciate the transparency and make it a point to bring my debit card.

I don't know if they're engaged in tax fraud though. Not really my department.

I believe in business done for mutual gain, that's how I do mine, and I make it a point to find as many like-minded people to do business with because they're just easier to deal with. I don't feel the need to get second quotes on car repairs because I've gone to the same shop my dad went to. I know the guy, I handle his IT needs. He isn't out to get me for every dime he can, and I'm not out for every dime either: we go to each other when we have problems, and we solve those problems for one another with some on the top to take home.

I'm sure neither of us will be billionaires but I can also sleep at night which is nice.

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