COF - Klarna CEO: We're coming after PayPal; BNPL more healthy for consumers than credit cards

Klarna CEO Sebastian Siemiatkowski set his sights on PayPal (NASDAQ:PYPL) on Friday, saying he was specifically targeting the digital payments giant as his fintech looked to grab market share with its Buy Now, Pay Later products. "It's PayPal we're after," the top exec at Klarna (KLAR) told CNBC. "My sincere hope is that maybe some of that market price decline on PayPal over the last few weeks is that more people are starting to wake up to the fact that Klarna is making serious inroads in the U.S. market," he added. Siemiatkowski added that KLAR's BNPL structure allowed consumers to move away from credit cards, a payment method that he called "not healthy for consumers." The Klarna CEO believes his industry, which also includes publicly trading BNPL firms like Affirm (NASDAQ:AFRM) and Afterpay (OTCPK:AFTPF), which has a deal to be acquired by Square (NYSE:SQ), has had a positive influence on

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Klarna CEO: We're coming after PayPal; BNPL more healthy for consumers than credit cards