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