FinTech: Klarna Launches “Pay Now” In The US, Klarna Card Soon To Follow

November 24, 2021 | FinTech, News

Consumers not looking for a Pay Later option can use Pay Now to pay immediately and in full

Klarna, the Stockholm-headquartered fintech powerhouse last valued at $45.6 billion, has brought a “Pay Now” offering to consumers at retailers wherever Klarna is accepted. The company also announced a Klarna Card to “very soon” hit the US market and which would be loaded with the company’s highly popular Pay in 4 product for interest-free instalment payments. (Finovate)

Klarna’s Pay Now offering rounds off its payment optionality. Recognizing that some consumers may not be interested in availing BNPL for their shopping, Klarna lets them now pay in full and immediately. The additional optionality will ensure the customers continue to patronize Klarna for payments.

Sebastian Siemiatkowski, Klarna’s Co-founder and CEO said: “Consumers continue to reject double digit interest rates and fee-laden revolving credit, while simultaneously seeking more choice, control and flexibility in how they shop and pay both online and in store. With the introduction of ‘Pay Now’, Klarna now offers US consumers the choice to pay immediately and in full, alongside our sustainable interest-free services. By launching ‘Pay Now’ and introducing the Klarna Card in the US, we are continually developing our services to meet consumers’ changing needs.”

Klarna physical card

Klarna’s customer-oriented approach is paying off in the US, with its customer base nearly doubling over the past year to more than 21 million users. On the other hand, retailers are choosing Klarna as a preferred partner both online and in-store, across all verticals with brands such as Bed Bath and Beyond, Saks Fifth Avenue, Petco, JCPenney, Converse, Wayfair, Pandora, and 1-800-Flowers joining its global retailer network.

The Klarna Card will offer the benefits of a physical card that is connected to the Klarna app but which offers the same functionality. With the Card, which is already established in Europe, consumers can pay over time in four interest-free payments for any in-store or online purchase. The card will also be connected to the company’s loyalty program, Vibe, which rewards consumers who pay on time with exclusive deals and discounts.

The card can also be added to Apple Pay and Google Pay.

Related Story: With $639M In The Bag, Klarna Notches Massive $45.6B Valuation

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Digital Assets: India To Clamp Down On Cryptocurrencies Via Legislation By Year-End
November 24, 2021     Digital Assets, Latest News, News

The legislative agenda for the upcoming winter session of the Lok Sabha, the lower house of India’s parliament, shows that a bill titled “The Cryptocurrency and Regulation of Official Digital…
Venture Capital: Agtech And Farmer-To-Farmer Platform FBN Raises $300M
November 24, 2021     ESG and Sustainability, News, Venture Capital

Farmers Business Network (FBN) is a farmer-to-farmer network launched in 2014 as an information source and for sharing of agronomic precision data. It now has thousands of farmer-members managing millions…
Venture Capital: Arc, Which Makes $300K Electric Boats, Snags $30M
November 24, 2021     News, Venture Capital

Arc, a startup led by former SpaceX engineers and developing electric boats, announced its $30 million Series A raise led by Greg Reichow, a former Tesla VP of Production, now…
Alternative Investments/ESG: RBC Unit BlueBay Asset Management Launches Multi-Asset ESG Strategy

Specialist fixed income manager BlueBay Asset Management, which is owned by the Royal Bank of Canada, announced the launch of the BlueBay Total Return Diversified Credit ESG Fund. It is…