Technology

Klarna will now let you pay them so you can pay them less money

Published

2 years ago

January 24, 2024

Klarna will now let you pay them so you can pay them less money

Great news for those of you already experiencing subscription fatigue: you can subscribe to buy now, pay later (BNPL) service Klarna for $7.99 a month.

At first glance, this seemed pretty fucking weird to me. I mean, the entire point of Klarna is that you can essentially do layaway without paying any kind of interest; Klarna has partnered with a wide array of retailers — from Dolce & Gabbana to 1-800-Flowers.com to Macy’s — to create this service. So what’s the consumer value in the subscription?

The subtext of the announcement is, “Hey look, another revenue stream!”

Well, let’s say you shop at, I dunno, Target or Kroger or Safeway. These retailers aren’t affiliated with Klarna, so if you try to use the service there, you have to pay a transaction fee of up to $2. “The main proposition of Klarna Plus right now is that you don’t pay any service fees,” David Sandstrom, the chief marketing officer of Klarna, told CNBC. “So if you love Klarna and if you love shopping at Target and Walmart, it makes a ton of sense financially.”

I am somewhat less sure about that, but we’ll come back to my doubts in a minute. What I do feel sure of is that this is Klarna attempting to goose its rumored IPO. The subtext of the announcement is, “Hey look, another revenue stream!” After all, Klarna’s valuation dropped to almost $8 billion from about $46 billion last year, which, ouch. As a result, Klarna has become the poster child of overly exuberant investments in fintech, according to no less of an authority than the Financial Times.

At the risk of sounding like a dang broken record: this is, of course, related to interest rates. For most of Klarna’s history — the company launched in 2005 — interest rates have been pretty close to zero. Easy credit was everywhere! But rising interest rates might make more people default on their payments.

Klarna offers several ways to split payments. First, paying in four installments with 25 percent down upfront. Second, paying over the course of 30 days. Third, short-term loans, with an APR of as high as, uhhhh, 33.99 percent.

When Klarna started trying to grow its presence in the US market, it began a long string of quarterly losses

Now, to be clear, part of Klarna’s model is that some people won’t pay on time. That means late fees — $7 per missed payment — and eventually, debt collection. About a quarter of BNPL users in the UK have been charged these fees in the last six months of 2023, and younger consumers were more likely to get stuck with them. Some people also took a hit on their credit score or were contacted by debt collectors.

Part of Klarna’s value proposition is that it doesn’t require a credit check. So if your credit is bad, you can still use it. The problem here, of course, is that if you do pay your loan off on time, your credit score doesn’t improve. But it can be harmed if you miss payments.

I am going to leave aside the question of whether BNPL broadly is bad for society. (There is a strong argument to be made that it is, in fact, good.) I want to focus on Klarna, which was profitable from its founding until 2018, Fortune reported. But when the company started trying to grow its presence in the US market, it began a long string of quarterly losses, starting in 2019, that only ended last year.

So between the new interest rate environment and the new investor focus on profitability, Klarna has some incentives to offer new products that will make its IPO juicy. From an investor’s perspective, the subscription plan means recurring revenue, which is good, and a new revenue stream, which is also good. And in case you were curious about who that press release is really for, Klarna makes sure to note it’s sprinkled some AI on its business.

I wonder whether Klarna Plus is a good deal for consumers

But I wonder whether Klarna Plus is a good deal for consumers. Klarna’s press release says that the subscription will save people… $12 a month on fees.

The press release also says that users will get exclusive deals worth up to $30 a month. I find this somewhat befuddling: if you’re in a financial position where saving $12 a month is important, why would you want to be encouraged to spend more money with “exclusive deals”? Remember, Klarna’s value proposition to the businesses it courts is that it encourages people to spend more money. “Businesses of all sizes grow with Klarna,” its website says. “Turn our high-intent shoppers into loyal customers with performance-driven marketing solutions.” It promises “up to 70% increase in revenue” to businesses that use Klarna to deliver “shoppable content that sells.” Hmm!

The UK survey suggests most Klarna users pay off their debt without incurring fees. For Klarna, the most valuable customers are those who are likely to incur late fees. And the examples marketing officer Sandstrom uses are telling: Walmart, Target, Amazon, Costco. You know, the big box retailers where people buy ordinary staples — which suggests the model targets people who are having difficulty with increases in the cost of living.

If those people are successfully paying off their debt, Klarna gets the subscription fee. I don’t see anything in Klarna’s press release about saving on late fees with Klarna Plus. So if you don’t pay off your loan, you’re paying the subscription fee and the late fees.

Anyway, Klarna’s promising to launch more features soon, such as a high-yield savings account, its marketing officer told CNBC. Given Klarna’s IPO plans, I expect those features will be highly appealing to potential investors. But will they be good for Klarna’s customers?

Technology

Chrome rolls out AI podcast feature on Android

Published

8 minutes ago

December 17, 2025

Press Room

Chrome rolls out AI podcast feature on Android

NEWYou can now listen to Fox News articles!

Chrome on Android now offers a fresh way to digest information when your hands are busy or your eyes need a break.

A new update powered by Google Gemini can turn written webpages into short podcast-style summaries. Two virtual hosts chat about the content, making it feel easier to follow during your commute or while you multitask.

This upgrade builds on Chrome’s long-standing read-aloud tool, yet now adds a more natural and lively delivery. It does not work on every website, so some pages will still use the original word-for-word reading. When the AI option appears, though, the audio feels polished and smooth.

Below is how to try it on your Android phone right now.

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Make sure you have the newest Chrome version so the AI podcast feature works. (Cyberguy.com)

Update Chrome before you start

First, make sure Chrome is current in the Play Store by opening the Play Store, searching for Google Chrome and tapping Update if it appears. The AI podcast feature works with version 140.0.7339.124 or newer, so confirm you have at least that version installed. Once you finish the update, open Chrome and pick any webpage with text you want to hear.

Settings may vary depending on your Android phone’s manufacturer.

Open the More menu

Tap the More icon or the three vertical dots in the upper right corner. This reveals a set of options that control how Chrome displays or reads the page.

Select Listen to this page

Choose Listen to this page. You will see a small Generating AI playback banner at the bottom. The processing is fast, so you will not wait long.

Hear the AI hosts discuss the page

Chrome will start a mini podcast with two voices talking through the content. You can tap the playback bar to pause, rewind or jump ahead. The panel stays on screen and follows you as you scroll.

Switch to standard playback when you want

The AI audio keeps going even if you leave the webpage. If you prefer a traditional word-for-word readback, tap the AI playback icon in the lower left and pick Standard Playback.

Chrome begins creating the AI audio as soon as you tap the “Listen to this Page” option. (iStock)

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What this means to you

This feature can make long articles easier to absorb when you are on the move. You get a quick, conversational rundown without having to read a full page. It also helps you revisit information faster since the controls work like any audio player. If you enjoy podcasts, this tool gives you a familiar way to stay informed without draining your attention.

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Kurt’s key takeaways

Chrome’s AI podcast feature brings a new layer of convenience to Android. It saves time, reduces eye strain and turns everyday browsing into a hands-free audio experience. Since it still supports the standard read-aloud mode, you can switch back anytime.

Would you use AI hosts to read your favorite websites, or do you prefer the classic readback style? Let us know by writing to us at Cyberguy.com.

Using the new update powered by Google Gemini, you can change from the AI podcast to a simple word-for-word reading at any time. (“I’ve Had It” YouTube channel)

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Kurt “CyberGuy” Knutsson is an award-winning tech journalist who has a deep love of technology, gear and gadgets that make life better with his contributions for Fox News & FOX Business beginning mornings on “FOX & Friends.” Got a tech question? Get Kurt’s free CyberGuy Newsletter, share your voice, a story idea or comment at CyberGuy.com.

Technology

Even Trump’s chief of staff was ‘aghast’ at Elon Musk’s deadly USAID cuts

Published

12 hours ago

December 16, 2025

Press Room

Even Trump’s chief of staff was ‘aghast’ at Elon Musk’s deadly USAID cuts

Wiles says she called Musk on the carpet. “You can’t just lock people out of their offices,” she recalls telling him. At first, Wiles didn’t grasp the effect that slashing USAID programs would have on humanitarian aid. “I didn’t know a lot about the extent of their grant making.” But with immunizations halted in Africa, lives would be lost. Soon she was getting frantic calls from relief agency heads and former government officials with a dire message: Thousands of lives were in the balance.

Wiles continued: “So Marco is on his way to Panama. We call him and say, ‘You’re Senate-confirmed. You’re going to have to be the custodian, essentially, of [USAID].’ ‘Okay,’ he says.” But Musk forged ahead—all throttle, no brake. “Elon’s attitude is you have to get it done fast. If you’re an incrementalist, you just won’t get your rocket to the moon,” Wiles said. “And so with that attitude, you’re going to break some china. But no rational person could think the USAID process was a good one. Nobody.”

Technology

OpenAI announces upgrades for ChatGPT Images with ‘4x faster generation speed’

Published

12 hours ago

December 16, 2025

Press Room

OpenAI announces upgrades for ChatGPT Images with ‘4x faster generation speed’

NEWYou can now listen to Fox News articles!

OpenAI announced an update for ChatGPT Images that it says drastically improves both the generation speed and instruction-following capability of its image generator.

A blog post from the company Tuesday says the update will make it much easier to make precise edits to AI-generated images. Previous iterations of the program have struggled to follow instructions and often make unasked-for changes.

“The update includes much stronger instruction following, highly precise editing, and up to 4x faster generation speed, making image creation and iteration much more usable,” the company wrote.

“This marks a shift from novelty image generation to practical, high-fidelity visual creation — turning ChatGPT into a fast, flexible creative studio for everyday edits, expressive transformations, and real-world use.”

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The OpenAI GPT-5 logo appears on a smartphone screen and as a background on a laptop screen in this photo illustration in Athens, Greece. (Nikolas Kokovlis/NurPhoto via Getty Images)

The announcement comes just weeks after OpenAI CEO Sam Altman declared a “code red” in a memo within his company to improve the quality of ChatGPT.

In the document, Altman said OpenAI has more work to do on enhancing the day-to-day experience of its chatbot, such as allowing it to answer a wider range of questions and improving its speed, reliability and personalization features for users, according to The Wall Street Journal.

The reported company-wide memo from Altman comes as competitors have narrowed OpenAI’s lead in the AI race. Google last month released a new version of its Gemini model that surpassed OpenAI on industry benchmark tests.

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The OpenAI logo Feb. 16, 2025 (Reuters/Dado Ruvic)

To focus on the “code red” effort to improve ChatGPT, OpenAI will be pushing back work on other initiatives, such as a personal assistant called Pulse, advertising and AI agents for health and shopping, Altman said in the memo, according to the Journal.

Altman also said the company would have a daily call among those responsible for enhancing ChatGPT, the newspaper added.

“Our focus now is to keep making ChatGPT more capable, continue growing, and expand access around the world — while making it feel even more intuitive and personal,” Nick Turley, the head of ChatGPT, wrote on X Monday night.

OpenAI CEO Sam Altman speaks during the Federal Reserve’s Integrated Review of the Capital Framework for Large Banks Conference in Washington, D.C., July 22, 2025. (Reuters/Ken Cedeno)

OpenAI currently isn’t profitable and has to raise funding to survive compared to competitors like Google, which can fund investments in their AI ventures through revenue, the Journal reported.

Anders Hagstrom is a reporter with Fox News Digital covering national politics and major breaking news events. Send tips to Anders.Hagstrom@Fox.com, or on X: @Hagstrom_Anders.