UK payday lender Wonga has sold it’s ecommerce division BillPay to fintech giant Klarna.

The deal, thought to be worth £60 million, helps Wonga significantly, the company having posted £120 million in losses over the past two years. The payday lender has been struck by an avalanche of bad publicity, being regularly characterised by politicians as a predator on households and individuals under financial pressure.

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