Klarna, one of the world’s largest Buy Now, Pay Later (BNPL) service providers, has introduced its Klarna Visa Card credit card to its suite of U.S. payment products. The Swedish firm is the latest BNPL to move into credit cards, following Bread’s new Amex card earlier this year.
Klarna Visa Credit Card Launches in the U.S.
(BNPL) firm Klarna has launched its U.S. credit card. The new Klarna Card balances the best of the BNPL experience with the global purchasing power of the Visa payment network, providing cardholders an easier way to buy the things they want now, and pay them off over time.
The Klarna Card empowers consumers to pay over time in four interest-free payments with no down payment for any store or online purchase, offering a welcome and sustainable alternative to high-cost credit cards. It features a host of powerful money management tools to help consumers stay on top of their Klarna purchases and keep full control of their finances. A new service, “Financial Overview,” is now available in the Klarna App with the card’s launch.
Offered by WebBank, the Klarna Card features no interest or APR. Instead, Klarna charges a $3.99 a month membership fee – equal to an annual fee of around $50. Fortunately, Klarna waives those charges for the first year after activation, enabling new cardholders to try it out at no cost.
Putting Consumers “In the Driver’s Seat of Their Financial Future”
“The fact that over 1 million U.S. consumers signed up to our waitlist in a matter of weeks demonstrates the incredible demand for a fair and transparent alternative to conventional credit cards,” said Sebastian Siemiatkowski, Co-Founder and CEO of Klarna in a statement. “By placing the power of our’ Pay in 4’ service in consumers’ pockets, the Klarna Card lets them experience the convenience, flexibility, and control of interest-free shopping wherever they go. In combination with our new, intuitive Financial Overview dashboard in the Klarna App, we make it easier than ever for consumers to understand their spending habits and manage their budget, placing them in the driver’s seat of their financial future.”
About Klarna
Klarna is a Sweden-based BNPL firm that lets consumers BNPL to get what they love today. Over 250,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, and more, use Klarna’s payments, social shopping, and personal finance solutions.
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