Klarna AB, the Swedish buy now, pay later giant with a major stake in the US market, has opened a waiting list for its Klarna card in the US. The co-branded Visa card, which will be issued by Salt Lake City-based industrial bank WebBank, follows Klarna’s agreement that allows users to pay in four installments over eight weeks online or in physical stores.
The move follows Klarna’s November launch of its Pay Now service in the United States. This service allows users to pay in full using Klarna at checkout.
The company is vague on when the card will launch in the US market, saying it will be available “in the very near future”. Corn Klarna clearly aims to capitalize on its growing popularity in the United States. He says his U.S. customer base has reached 25 million, up 70% over the past year as consumers increasingly turn to buy now, pay later to shop, especially in line. stores. the Klarna app alone accounts for 6 million monthly active users in the United States, according to information released this week.
A similar launch of the card last month in the UK generated a waiting list totaling 450,000 people “within days”, Klarna said in its announcement. The company has also introduced the card in Sweden and Germany, touting its cost advantages over the interest charged on conventional credit cards, as long as users stick to the prescribed payment schedule. “The Klarna Card offers consumers a real alternative to high-cost credit cards and lets them enjoy the power of Pay in 4 wherever they go,” said Sebastian Siemiatkowski, co-founder and chief executive of Klarna, in a statement.
The company also touted the availability of its loyalty program, Vibe, for the new card. “Vibes” users earn by spending on the card can be redeemed for rewards at Amazon, Walmart, Starbucks, Target and other retailers, Klarna says. The company recently announced promotional partnerships with the National Basketball Association’s Chicago Bulls and the National Women’s Soccer League’s Angel City Football Club.
Worldwide, Klarna claims over 100 million active users performing 2 million daily transactions. Its service is available at some 250,000 retail businesses worldwide.