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Klarna Customers Can ‘Save Now, Pay Later’ With New Balance and Cashback Features Sebastian Siemiatkowski, Co-founder and CEO of Klarna says: “Klarna owes everything to our loyal network of millions of consumers. These new products make it easier for customers to manage multiple scheduled payments, helping our customers use Klarna for more frequent purchases and driving loyalty. We are already one of the most trusted brands in financial services and we want to build on that to support all consumers with their everyday spending. Today's launches are a major step forward, allowing consumers to earn money while they shop and manage it in a Klarna account." https://lnkd.in/dC25wfwP Daniel Greaves David Fock Arvind Varadhan David Sandstrom Camilla Giesecke David Sykes Pedro Camargo Kevin Lindemann #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Merchants Continue to Choose Klarna, with 100,000 New Retailers Joining Klarna’s Network in One Year “The goal is to make Klarna ubiquitous, with Klarna in every checkout so we can provide consumers everywhere with a more flexible and fair payment option. This growth reflects the trust both merchants and consumers continue to place in us to deliver seamless, flexible payment options,” said David Sykes, Chief Commercial Officer of Klarna.“ I can only call this a win-win: the more merchants we have on board, the more accessible our services are to customers, and the more customers using our services, the more beneficial it is for merchants.“ https://lnkd.in/eW5wJ3a9 Daniel Greaves Camilla Sanders David Sandstrom David Fock Niclas Neglen Sebastian Siemiatkowski Elias Nilsson #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Klarna reports a SEK260 million profit in Q3 and strikes some partnerships ahead of holiday season #Klarna, the AI-driven global #payments network and shopping assistant, has reported a net profit of SEK 216 million for Q3 2024, marking its second consecutive profitable quarter. Under the leadership of CEO Sebastian Siemiatkowski, Klarna has returned to a phase of profit and growth, bolstered by strategic partnerships and rapid adoption of next-generation digital banking products. This momentum sets the stage for a strong holiday season, as Klarna continues to enhance its footprint in the global payments market. Strategic partnerships with key players like Worldpay, Adyen, Apple Pay, and Google Pay are expanding Klarna's reach to hundreds of thousands of new merchant checkouts and in-store terminals worldwide. Recent launches with brands such as Zoom and Lenovo further emphasize Klarna's role as a unified global payments partner, helping merchants increase average order values, conversion rates, and overall sales. The company is positioned to capture a significant share of the $450 billion payments market opportunity through its growing global network. Klarna's innovative digital banking products, such as Klarna Balance and Klarna Cashback, have quickly gained traction, with 1.6 million users in just three months and nearly $5 million returned to customers through rewards. These features enhance customer engagement but also support merchant sales growth, contributing to a 16% increase in gross merchandise volume (GMV) and a 23% revenue boost for the first nine months of 2024. The U.S. market remains a strong growth driver, with revenue up 33%, supported by partnerships with brands like Fashion Nova, Expedia, and Uber. The announce on Klarna website in the first comment.

Are you available for your cardholders at their point of need? “Companies like #Klarna and Affirm acquire customers at the point of need for that one buy-now pay-later purchase by offering an alternative to the bank or credit union card,” Bryce Deeney said. “And once the consumer is approved and downloads the app, these companies try to win the entire relationship — a major threat to traditional issuers.” Read more from equipifi, J.D. Power, and #Affirm on Practical Ecommerce. Dale Laszig #BNPL #buynowpaylater #debitcard #creditunion #banking #payments

“As of last year, Afterpay had 4.2 million U.S. monthly active users, surpassing competitors like Affirm (3.3 million), Klarna (3.3 million) and Zip (755,000), according to Bank of America Securities data. In its announcement, the company noted that its new installment payment partnerships come at a time when younger consumers are looking for alternative money management tools to navigate inflation.” “Amid ongoing inflation woes, consumers have turned to installment payment providers when their budgets are squeezed. According to a report from the Federal Reserve Bank of New York this year, 60% of financially fragile consumers have used BNPL services five or more times in the previous year, a higher share than the roughly 20% of financially stable consumers who do the same. During the 2023 holiday season, shoppers spent $16.6 billion online via buy now, pay later companies, up 14% from the previous year, Adobe Analytics found.” - Tatiana Walk-Morris

💡 Klarna just introduced its own cashback service 🚀 As a founder in this space, I see this as validation of the immense growth and value-add potential of cashback programs for shoppers. Klarna’s move shows that even established fintechs recognize the demand for rewarding customer loyalty. With shoppers looking for ways to save on every purchase, cashback is quickly becoming a must-have feature. Excited to see where this goes! 💰 Link to article in first comment. #Cashback #Fintech #Ecommerce #CustomerLoyalty 👀 Martin Souriau 🔥 KohortPay

Klarna will soon be offered as a default payment method by Worldpay, the 3rd-largest merchant acquirer in the world.🎉 This expanded partnership will accelerate the growth of our global network of 85 million active customers and 600,000 merchants. 📈 To continue to build the commerce network for the next generation, we’re doubling down on partnerships with payment processing giants like Worldpay which processes $2.3tr-worth of payments for over a million merchants globally. 🎉 A key pillar of our strategy is to transform Klarna from an ‘alternative’ to a default method of payment, meaning when businesses sign up to accept payments, Klarna will be a standard choice, just like Visa or Mastercard. 💳 This collaboration is a huge leap towards achieving our mission: Klarna on every checkout, everywhere, for everything. 🌍

Will Klarna be the Super App of North America? 👀 🚀 Klarna just announced Klarna balance account in the US and Europe - its most recent move into the retail-banking services! Klarna is on a mission to transform how we shop and manage our finances, and recently has been diversifying and expanding beyond its BNPL roots. It just announced the Klarna 'balance' account in 12 countries, enabling users to add funds into this account directly from their bank account, receive cashback rewards for shopping in the Klarna app or receive refunds from returned items - all within the Klarna app. This follows the launch of the Klarna Card in the US earlier this year. And let's not forget their global payments partnership with Uber, announced earlier this year—another significant step towards integrating services across our daily lives. eCommerce and payments are the backbone of any super app, and Klarna is excelling in both. With a US IPO anticipated early next year, Klarna is surely positioning itself as more than just a BNPL leader. #fintech #superapp #northamerica #patments

Klarna is launching their credit card in the U.S. This is what Andrea Rusnak, Director, Payments Group at Engage fi thinks about this move: Klarna requirements for U.S. citizens to be eligible is that you are at least 18 years old, have a bank account, and can receive texts. Applicants must also have a “positive credit history.” Klarna is a Buy Now Pay Later company and we’ve seen that BNPL usage is two times more likely than other generations to utilize this type of payment option at online checkout. This allows your consumers the ability to purchase goods and services that they need now but offers them the flexibility in the payback option to their financial institutions. This is a short-term financing option that has become more popular among consumers and retailers. Read the story here: https://lnkd.in/djj62icD

Open banking, Real-Time Payments (RTP), and FedNow offer a significant advantage for both consumers and merchants. They enable faster settlement times, potentially reducing fees for both parties. Additionally, open banking fosters a more level playing field for merchants of all sizes by promoting greater transparency and potentially reducing reliance on traditional processing partners.