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May 25, 2023

On the web

May 18, 2023

On the web

April 25, 2023

On the web

Klarna Spotlight, Spring ‘23: New AI-Powered, Personalized Shopping Feed and Innovations for Consumers and Retailers


"Klarna, a leading global retail bank, payments and shopping service is today showcasing a suite of new innovations cementing the company as a global shopping destination for 150 million consumers and growth engine to its 500,000 retailers for its Spotlight Spring product launch. This includes a new personalized shopping feed in the Klarna app and smart shopping features to help consumers find the perfect items, and resell items too. Plus new tools for retailers and creators to help them engage with their audiences in more effective ways. Together, these new products continue to shape the future of shopping, making it more personal, convenient and enjoyable."

March 23, 2023

On the wires

Klarna Brings Smoooth Shopping to ChatGPT

PR Newswire

"Klarna, a leading global retail bank, payments, and shopping service is excited to announce its new collaboration with OpenAI, which will level up the shopping experience. Klarna's engineering teams have been working together with OpenAI to bring smoooth shopping to the hugely popular ChatGPT. As one of the first brands to work with OpenAI to use its protocol to build an integrated Plugin for ChatGPT, Klarna is set to go live with a highly personalized and intuitive shopping experience by providing curated product recommendations to users who ask the platform for shopping advice and inspiration, along with links to shop those products via Klarna's search and compare tool."

March 16, 2023

On the wires

Klarna Unveils Conscious Badges Powered by Clarity AI, the World's First Assessment of Electronics Brands' Environmental Achievements

PR Newswire

"Klarna, a leading global payments provider and shopping service, today announced the launch of conscious badges in the Klarna App in collaboration with Clarity AI, the leading global sustainability tech platform. Klarna continues to evolve beyond payments to become a starting point for every purchase for 150 million consumers and 26 million app users worldwide, whether they already know what they want or are looking for inspiration, all while prioritizing environmental impact."

January 25, 2023

On the web

Klarna Introduces Money Story: A Personal Overview of Your Spending in 2022


Klarna, the global leader in the generational shift away from credit cards, today announced the launch of Money Story in the US Klarna App - a personal spending summary of 2022 that provides millions of consumers with useful insights into their spending habits and helps them be informed and in control of their finances. Using the animated “story” format popularized by social media, Money Story reveals spending habits to consumers in an engaging and familiar way.

January 17, 2023

On the web

The US is Now Klarna’s Biggest Market


Klarna seems to be kicking off the year on a high note as the US overtakes Germany as its largest market by revenue. The Swedish ‘buy now, pay later’ (BNPL) had a bit of a rocky 2022, to say the least, with losses tripling in the first half of the year, valuation cuts and layoffs. It ended the year on more of an uptick though, forecasting that in the second half of 2023, it would see itself back into the monthly profits it saw in 2019.

Ingenico partners Klarna to Offer In-Store Payment Solutions

Electronic Payments International

Payments acceptance solutions provider Ingenico has teamed up with Swedish buy-now-pay-later (BNPL) outfit Klarna to provide various payments tools at retail outlets. Under the strategic partnership, Klarna will use Ingenico’s cloud payments platform as a service tool, PPaaS, to introduce its alternative payment solutions at different point of sale (POS) terminals.

January 13, 2023

On the web

Citcon Partners With Klarna to Offer Klarna’s Flexible Payment Solutions Worldwide

Citcon, the leading one-stop service global payment platform in providing in-store, online, and mobile payment solutions, and Klarna, the global leader in the generational shift away from credit cards, announced today an integration and business partnership which will add Klarna as a featured mobile wallet available through Citcon’s omni-channel payment platform. Merchants currently using the Citcon payment gateway can now provide Klarna as a payment option for online purchases and in-store payments using Citcon’s payment capability.

December 7, 2022

On the web

Klarna Adds Granular Carbon Foot Printing to More Than 50 Million Fashion Items

Internet Retailing

“BNPL payment provider Klarna has partnered with climate tech start up Vaayu to provide shoppers with granular carbon footprinting for more than 50 million fashion items, giving them more accurate insights on their environmental impact than ever before and empowering them to make more conscious purchasing decisions. Using Vaayu’s technology, Klarna’s upgraded CO2e tracker automatically calculates carbon emissions for fashion purchases on a product-level in real-time, as featured in Klarna’s recent ‘Spotlight’ event. The cradle-to-grave life cycle assessment (LCA) approach provides users with an enhanced breakdown of a product’s CO₂ emissions along different stages of its lifecycle, allowing Klarna’s 150 million consumers to develop a deeper understanding and sensitivity for their shopping choices.”

November 14, 2022

On the web

A ‘Credible Alternative to Google and Amazon’: Klarna Brings Its Price Comparison Tool to Europe


“Klarna is expanding into the competitive world of price comparisons, with the launch of a new tool that compares prices across thousands of retailers. The company quietly rolled out the price comparison service in the U.S. a few weeks back, and is now extending this into additional markets in Europe including The U.K. and the Nordics. The European “buy now, pay later” fintech has had a turbulent year, laying off 10% of its workforce in May followed by a second round of layoffs in September. Sandwiched in between, news emerged that Klarna had raised $800 million in funding, albeit at a valuation 85% lower than the previous year, a trend that has echoed elsewhere across the fintech sphere and beyond.”

On the wires

Viva Wallet and Klarna Enter Europe-Wide Partnership

PR Newswire

“European cloud-based neobank Viva Wallet is set to further expand the line-up of payment options offered to their thousands of merchants across the continent. Klarna, counting 150 million global active users and 2 million transactions per day, is the latest addition to Viva Wallet’s online and in-store innovative payment platforms. Through this partnership, merchants meet the needs of a new generation of shoppers demanding more convenient, flexible payment alternatives that help them stay in control of their finances.  Pay in 3, Pay in 30 Days, Pay Now, or opt for Financing to pay over 3-36 months in a smooth one-click purchase; Klarna’s payments offering is now added to the collection of over 30 payment options delivered by Viva Wallet, featuring all major international as well as local payment schemes to accommodate all transactions. “Pay with Klarna” will be available to those interacting with the online and brick-and-mortar touchpoints, supported by Viva Wallet POS app that turns any Android mobile into a card terminal, and Smart Checkout payment gateway for e-shops, “allowing consumers to pay when and how they prefer to, saving time and money” as per Klarna’s scope.”

October 21, 2022

On the web

October 6, 2022

On the web

Budgeting, Apps and Coupons: New Klarna Holiday Report Shows Big Behavior Changes

TechCrunch/Yahoo Finance

More than 2 in 3 (68%) of shoppers plan to spend more or the same on holiday shopping this year compared to last year, according to a new holiday report from Klarna, the global leader in the generational shift away from credit cards. About 1 in 4 (24%) of shoppers have tightened their budgets and plan to spend less. Moreover, while 1 in 3 (31%) plan to spend more this holiday season, consumers of all ages are also prioritizing deals, discounts, and apps, signaling an even bigger emphasis on smart and savvy shopping habits.

“The data this year tells a slightly different story about holiday shopping. We’re seeing a combination of shoppers tightening their budgets, and shoppers that are willing to spend at similar or higher rates. But the common denominator is that the majority are approaching the holiday season sales in a much more savvy way,” said Klarna’s Global Head of Partner Success, Raji Behal. “The vast majority of all holiday shoppers this season are focused on budget-friendly products, discounts, and smarter ways to shop.”

August 31, 2022

On the web

Klarna’s Half Yearly Operating Loss Rises


“Swedish payments company Klarna said on Wednesday its half-yearly operating loss more than tripled weighed down by an increase in employee costs, higher credit losses and continued investment in market expansion. The operating result for the first half of the year was a loss of 6.17 billion Swedish crowns ($578.52 million) compared with 1.76 billion crowns in the year-earlier period. Total credit losses rose to 2.85 billion crowns from 1.85 billion crowns a year earlier. Known for its “buy now, pay later” (BNPL) services, Klarna grew fast during the pandemic but since the start of the year rampant inflation and the war in Ukraine had worsened business sentiment.”

August 15, 2022

On the web

Klarna Expands ‘Super App’ to Track All Your Shopping

Alt Fi

“Klarna wants to lead a generational shift away from credit cards and, increasingly, be users’ only app for online shopping. Klarna has made a big step forward in its long-term strategy to become the sole shopping app consumers use. The BNPL giant has updated its app so consumers can use it to keep track of all online shopping, not just Klarna purchases.  Klarna says the move will help UK consumers save time and manage their online purchases more convenient.  Users connect their email accounts to the app and Klarna scans details from order confirmation emails and imports the data into the Klarna app. This data includes product images, prices, delivery tracking numbers, and carrier and parcel tracking information. The feature is compatible today with Gmail and Outlook.”

July 27, 2022

On the web

Klarna’s Fall From Grace Calls Into Question Unicorn Board Valuations

Crunchbase News

“The explosive growth in value and funding for startups on The Crunchbase Unicorn Board appears to be leveling off as 32 companies joined in June, adding $49 billion in value and $7.7 billion in funding to the board. In addition, payment fintech Klarna’s massive downround this month calls into question the board’s $4.6 trillion value in June, as Klarna is now poised to topple from its heady No. 6 spot. Klarna shed $39 billion in value from the board with its most recent $800 million funding that valued the company at $6.7 billion. Klarna is now valued below Europe-based online payments integrators Checkout.com, Rapyd and point of sale payments SumUp, but valued above payments integrator Mollie. This 86% drop also calls into question many highly valued unicorns on the board.”

July 13, 2022

On the web

Blackhawk Network and Klarna Partner to Offer Consumers More Flexible Payments In-Store

Blackhawk Network

“Today, a new partnership between global branded payments provider, Blackhawk Network, and leading global retail bank, payments, and shopping service, Klarna, will extend the ability for consumers to use Klarna’s interest-free alternative payment solutions at a variety of physical retail locations. As consumers expect increased flexibility in the way they shop and pay throughout their everyday purchases, this new partnership will enable the integration into Blackhawk’s vast US network, including categories ranging from grocery to electronics, beauty, and more, by tapping into Blackhawk’s payments technology integration with major retail partners and leaders.”

July 11, 2022

On the web

Klarna Raises $800 Million as Valuation Plunges 85% in a Year


“Swedish payments firm Klarna Bank AB said on Monday it had raised $800 million of funds at a valuation of $6.7 billion, down around 85% from the $46 billion price-tag it attracted last year. The tough stance taken by funders comes amid a drop-off in investor interest in fast-growing tech ventures that have yet to turn a profit and are burning through their cash reserves.”

June 28, 2022

On the web

As Klarna and Affirm Falter, a New Breed of ‘Buy Now, Pay Later’ Startups are Stealing the Spotlight


“With hype over the “buy now, pay later” trend fading, some investors are betting they’ve found the next big thing. Buy now, pay later companies like Klarna and Affirm, which let shoppers defer payments to a later date or break up purchases into interest-free installments, are under immense strain as consumers become more wary about spending due to the rising cost of living, and as higher interest rates push up borrowing costs. They’re also facing increased competition, with tech giant Apple entering the ring with its own BNPL offering.   But venture capitalists are betting a new breed of startups from Europe will be the real winners in the space. Companies like Mondu, Hokodo and Billie have raked in heaps of cash from investors with a simple pitch: businesses — not consumers — are a more lucrative clientele for the buy now, pay later trend.”

June 27, 2022

On the web

Klarna App is Enhanced With Digital Wallet for Easy Access to Loyalty Cards


“Klarna, a leading global retail bank, payments, and shopping service today announced the launch of its new Loyalty Card feature in the Klarna App. This allows app users to store and access their physical loyalty cards as digital versions. They can then collect all points and benefits at any merchant without the need to carry plastic equivalents while out shopping in-store. Powered by the acquisition of mobile wallet provider, Stocard, the primary consumer offering now integrates into the Klarna App as a means of further establishing an all-in-one experience that drives convenience and value to consumers’ shopping journey. The feature supports over 8,000 loyalty reward programs worldwide, spanning everything from clothing and beauty to technology and groceries to help ensure that consumers never miss out on collecting valuable points – wherever they shop.”

June 24, 2022

On the web

June 10, 2022

On the web

Klarna CEO Defends Business Despite Massive Losses and Layoffs


“Klarna CEO Sebastian Siemiatkowski has defended his company’s business model and the controversial “buy now, pay later” industry. Klarna lets consumers buy things that they might not necessarily be able to afford at that moment in time. Its 150 million customers pay a relatively small amount up front and pay back the rest later.   In an interview with CNBC’s “Squawk Box Europe” on Friday, the Swedish entrepreneur said BNPL is “superior” to the credit card model, claiming that the average Klarna user has an outstanding balance of $50, whereas the average credit card user has an outstanding balance of $5,000.”

June 6, 2022

On the web

Affirm and Klarna Ramp Up Competing Efforts to Attract US Consumers


“Buy now, pay later has become nearly ubiquitous here in the U.S. As such, companies that offer that technology to merchants are unsurprisingly growing more competitive with each other. Case in point. This past week, San Francisco–based Affirm announced it was making its buy now, pay later technology available to U.S. businesses that use Stripe’s payments tech. This means that a whole slew of companies that were not previously able to offer their customers the option to pay in installments, now can.”

June 1, 2022

On the web

Marqeta Announces Partnership With Klarna To Build Klarna Card, a Transparent Alternative to Traditional Credit Cards


“Marqeta, the global modern card issuing platform, today announced it is working with Klarna, a leading global retail bank, payments and shopping service, to power its new Klarna Card. The Klarna Card will bring the company’s popular “Pay in 4″ service to a physical Visa card, empowering consumers to pay over time in four equal, interest-free payments for any in-store or online purchase.”

May 24, 2022

On the web

Can Klarna and Its Rivals Survive an Economic Downturn?


“Public markets are down, and banks and economists are grappling with the possibility of an economic downturn. In these uncertain times, even Europe’s best-funded startup is not immune. Yesterday buy now, pay later (BNPL) giant Klarna’s CEO and cofounder Sebastian Siemiatkowski said that the company will lay off 10% of its workforce. The company also quietly announced that pre-tax losses tripled to $250m in the first three months of the year, up from $80m in the same period last year.  It’s a stark reminder of how exposed one of investors’ — and consumers’ — most beloved innovations of the past decade is to macroeconomic headwinds. Since 2019, investors have poured $3.9bn into Klarna and its European rivals like Scalapay, Zilch, Alma and Zilch — more than half of the total investment into European payments startups in that time.”

May 20, 2022

On the web

Klarna to Take 30% Valuation Hit, According to Reports

Alt Fi

“Europe’s most valuable fintech company Klarna is facing a c.30 per cent cut in an ongoing funding round aimed at raising  $1bn, according to media reports. In contrast to other reports from the start of the year, when the ‘buy now, pay later’ giant was said to be courting sovereign wealth and pension funds as new investors at a valuation between $50-60bn. The Swedish company last raised cash in June of 2021 at a $45.6bn valuation, and previous to this at a $10.6bn valuation in September of 2020. Owing to explosive growth in the BNPL market during the pandemic as well as rapid geographical expansion, Klarna has scaled to 150 million global customers”

May 12, 2022

On the web

Klarna Launches Virtual Shopping, Bringing the In-Store Experience to Online Shoppers


“Klarna, a leading global retail bank, payments, and shopping service, today announced the launch of its Virtual Shopping offering, bringing the best of in-store to the online experience. Virtual Shopping by Klarna enables consumers to browse and buy online with confidence by connecting them directly with in-store experts through live chats and video calls to receive product advice and inspiration. For retailers, Virtual Shopping empowers in-store teams to bring their expertise beyond the walls of physical stores to millions of shoppers online. By using the new merchant-facing Klarna Store App, in-store teams can share photos and videos of items and demo products live directly from the store floor, from home, or even from emerging dark store concepts. This in turn drives brand engagement and loyalty while reducing return rates. The launch builds upon the successful acquisition of Hero, a social shopping platform and leader in virtual shopping services, last year.”

May 4, 2022

On the web

Buy Now, Pay Later Will Soon Affect Your Credit Score in the UK


“Buy now, pay later giant Klarna says it will start reporting data on customers’ usage of its products to credit bureaus in the U.K., gearing up for incoming regulations aimed at reining in the sector over fears it is putting young people into debt. Starting June 1, the Swedish fintech firm will share information on whether Brits paid off an installment loan in time or are falling behind on their payments to TransUnion and Experian, meaning such data will now start to appear on their credit reports. Klarna has around 16 million users in the country.”

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