Klarna enters subscription market with Klarna Plus launch in the US

Digital Reinvention
03/02/2024 News

Klarna, the AI-powered global payments network and shopping assistant, introduces Klarna Plus in the US, marking its foray into the subscription service model. Available for a monthly fee of $7.99 through the Klarna app, Klarna Plus offers exclusive benefits to loyal Klarna shoppers, including waived service fees on the One Time Card product, double rewards points, and special deals with popular brands.

David Sandstrom, Chief Marketing Officer at Klarna, sees Klarna Plus as a significant milestone, catering to the demands of dedicated users seeking an enhanced shopping experience through a subscription model. With the global subscription e-commerce market projected to reach $2419.69 billion by 2028, Klarna Plus aims to capitalize on this trend by providing a suite of premium benefits for a nominal fee.

At launch, Klarna Plus offers double rewards points on purchases with Klarna rewards club, no service fees on payments split into four interest-free installments using Klarna’s One Time Card, and access to special discounts at brands like Nike, COACH, Macy’s, Instacart, and GOAT, totaling up to $30/month.

The debut of Klarna Plus coincides with Klarna's substantial growth in the US market, with a 32% increase in its customer base over the past year, now reaching 37 million consumers. This growth underscores Klarna's commitment to innovation, positioning itself as a comprehensive shopping and payments ecosystem. With flexible payment options and tailored shopping solutions, Klarna aims to meet the evolving preferences of modern consumers.

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