Klarna, the AI-powered global payments network and shopping assistant, has unveiled two new products designed to revolutionize everyday spending and saving. Launched across 12 countries in Europe and the U.S., these features mark a significant step in Klarna's mission to disrupt retail banking and become a trusted partner for consumers' daily financial needs.
The first product, Klarna Balance, allows users to store money in a Klarna 'account.' Consumers can add funds directly from their bank accounts, receive cashback rewards from shopping within the Klarna app, and manage refunds from returned items. This account serves as a convenient hub for managing finances, particularly for those who frequently shop with Klarna.
The second feature, Cashback, rewards consumers for shopping through the Klarna app. Shoppers earn a percentage of their purchases at participating retailers, with the cashback being deposited into their Klarna Balance account. The cashback percentage varies by retailer and can go as high as 10%. Unlike traditional coupons or sales, cashback functions like real money, offering consumers the flexibility to spend it wherever Klarna is accepted.
Sebastian Siemiatkowski, Klarna's Co-founder and CEO, emphasized the significance of these new offerings: "These products make it easier for customers to manage multiple scheduled payments, use Klarna for more frequent purchases, and drive loyalty. We want to support all consumers with their everyday spending, and today's launches are a major step forward."
These product launches come shortly after the introduction of the Klarna Card in the U.S., which has already seen success in Sweden, Germany, and the UK. The Klarna Card offers a fairer and more sustainable alternative to traditional high-cost credit cards, further solidifying Klarna's position as a leader in modern financial services.
