Klarna's Money Story: Empowering smarter spending

Digital Reinvention
07/02/2024 News

Klarna, the AI-driven global payments network and shopping assistant, reintroduces Money Story in the Klarna App, unveiling users’ 2023 spending summaries. This feature not only illuminates spending patterns but also inspires budgeting, saving, and savvy shopping in the new year.

According to Klarna’s 2023 Holiday Survey, top financial resolutions for US consumers included paying off credit card debt, budgeting, and saving money. Money Story provides insights into peak spending months, top purchases, and frequent categories, aiding users in setting financial goals for 2024 using Klarna’s money management tools.

Money Story aggregates data from all Klarna transactions, including those made through the Klarna App, Klarna Card, and partnered retailers’ checkouts. Globally, Clothing & Shoes topped spending lists, with Leisure Sport & Hobby leading in the US. November emerged as the highest-spending month, coinciding with the holiday season.

Erin Jaeger, Head of North America at Klarna, emphasizes Money Story's goal of making financial wellness accessible. By gamifying financial management, Klarna aims to empower users to optimize their finances for 2024 and beyond.

To assist users in making smarter spending decisions, Money Story prompts exploration of Klarna’s money management tools. The significant rise in users setting or updating budgets within the Klarna App – a 68% increase year-over-year – underscores the importance of these features.

With over 37 million consumers and 7 million monthly app users in the US, Money Story supports Klarna’s mission to simplify finances. Available globally across 25 markets, including the United States, United Kingdom, Germany, and Sweden, Money Story equips users with the insights and tools to navigate their financial journey confidently and responsibly.

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