A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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May 23, 2024
On the web
The CFPB Should Recognise Key Differences Between BNPL and Credit Cards
Klarna
"The Consumer Financial Protection Bureau (CFPB) issued new interpretive guidance relating to Buy Now, Pay Later regulations in the US. From our initial read, this announcement does not require any major changes to Klarna’s business and we consider today’s announcement to be a significant step forward in getting BNPL regulation in place in the US."
April 22, 2024
On the web
Klarna Expands Global Partnership With Expedia Group, Offering Flexible Payments to US Consumers
Klarna
"Klarna, the AI powered global payments network and shopping assistant announced the expansion of its partnership with Expedia Group to the US market."
April 17, 2024
On the web
New and Improved Klarna Card Announced in the US, Empowering Smarter Spending and Greater Financial Control
Klarna
"Klarna, the AI powered global payments network and shopping assistant, announced it has opened its waitlist for the new Klarna Card to all US consumers."
April 4, 2024
On the web
Klarna ‘Wikipink’ Challenges Broken US Credit System With Transparent Data
Klarna
"Klarna announced in an industry-first, the launch of a new online initiative - Wikipink - aimed at setting new standards for transparency and responsibility in the credit and lending industry. Klarna challenges the status quo by revealing comprehensive data on its services, including repayment rates, late fee rates, and consumer age demographics, highlighting its commitment to fair and sustainable credit solutions."
Klarna Challenges UK Banks With Transparent Consumer User Data Revealing 95% of Payments Paid on Time or Early
Klarna
"Klarna announced Wikipink, an industry-first data hub with facts on how UK consumers are using Klarna’s credit products. Amid growing scrutiny over the practices of credit providers and increasing credit card debt in the UK, Klarna revealed comprehensive data on repayment rates, debt-collection, defaults and consumer age demographics."
March 14, 2024
On the web
Klarna Adds Open Banking Settlements for 18 Million Consumers and 32,000 Retailers
Klarna
"Klarna has begun to roll out open banking-powered settlements in the UK, which means consumers can now pay Klarna directly from their bank account instead of using a debit card, bypassing card networks."
February 28, 2024
On the web
Klarna AI Assistant Handles Two-Thirds of Customer Service Chats in Its First Month
Klarna
"Klarna announced its AI assistant powered by OpenAI. Now live globally for 1 month, the numbers speak for themselves..:"
February 22, 2024
On the web
Buy Now, Pay Early: 97.4% of Klarna Black Friday Purchases Paid off on Time or Early [UK]
Cision
"Klarna, the AI-powered global payments provider and shopping assistant, has revealed UK consumers paid off 97.4% of Black Friday orders on time or early, an increase of 2% compared with last year."
January 24, 2024
On the web
Klarna Enters Booming Subscription Market With the Launch of Klarna Plus in the US
Klarna
"Klarna, the AI powered global payments network and shopping assistant, today announced its entry into the subscription service model with the launch of Klarna Plus, issued by WebBank, now available to eligible US consumers through the Klarna app for a monthly fee of $7.99."
December 5, 2023
On the web
Adyen to Act as Acquiring Bank for Klarna, Starting 2024
Finance Magnates
"In a move to “simplify payments”, the financial technology platform Adyen, has announced that it is expanding its partnership with Klarna, an AI-powered global payments network."
November 21, 2023
On the web
Form3 to Support Klarna’s European Payments
Fintech Finance News
"Form3, the cloud-native account-to-account platform, announced it will be providing Klarna, the AI-powered payments network and shopping assistant, with SEPA connectivity to bolster its customer offering in Europe as part of its wider international growth strategy."
November 14, 2023
On the wires
Klarna Expands Growth Tools for Retailers and Creators Through Global Rollout of Creator Shops and Ads Manager
PR Newswire
"Klarna announced the expansion of its growth tools for retailers and creators to help them engage with their audiences in more effective ways and enhance the shopping experience for consumers."
October 31, 2023
On the web
British Rival Klarna Valued at £1.65bn After Securing eBay Backing
Business News
"Zilch chief executive Philippe Bellament said the company was looking to ‘double sales, triple revenues and fivefold gross profit’ in the financial year to March 2023. A British rival to Swedish buy-now-pay-later (BNPL) giant Klarna has secured an investment from eBay in a deal valuing it at $2bn (£1.65bn)."
October 12, 2023
On the wires
Klarna Taps AI for Human Shopping Experience in Major Autumn Launch
PR Newswire
"Klarna, the AI-powered global payments network and shopping assistant has today unveiled a treasure-trove of 13 new products as part of its Spotlight Fall launch."
September 19, 2023
On the web
As Klarna Aspires to be a Global Bank, Affiliate Marketing is its Cash Cow
Sifted
"Last week, Swedish buy now, pay later (BNPL) scaleup Klarna brought 4,000 employees together in Stockholm; social media showed people dressed up in bandanas or Klarna pink — there were even a few Minions."
July 31, 2023
On the web
Klarna Scraps Open Banking Brand Klarna Kosma
Tech.eu
"Klarna has scrapped its open banking brand Klarna Kosma after less than 18 months. The Swedish BNPL giant launched Klarna Kosma as a brand and business unit in April last year, saying it represented a “major strategic move”."
July 19, 2023
On the web
Klarna is First BNPL Provider to Partner with Money Adviser Network to Provide Customers with Fast, Free Debt Advice
Klarna
"Klarna, the global payments network and shopping destination, today announced a partnership with the Money Adviser Network to help its consumers access free and impartial debt advice quickly, as part of wider efforts to promote healthy spending. This makes Klarna the first Buy Now Pay Later (BNPL) provider to join forces with the Money Adviser Network."
June 21, 2023
On the wires
Karma Wallet Announces Partnership with Marqeta to Launch Sustainable Prepaid Debit Card, Empowering Eco-Conscious Consumers with Seamless Payment Experience
PR Newswire
"Karma Wallet, a sustainable fintech platform, today announced a partnership with Marqeta, a global modern card issuing platform, to launch a prepaid debit card solution, which will empower consumers to make a positive impact on the world while managing their finances."
June 16, 2023
On the web
Klarna Keeps Looking for Non-BNPL Features to Maintain Growth
Insider Intelligence
"Klarna is on the hunt for new product features and expanding into different industries to become more than just a payments company as it feels the financial squeeze on buy now, pay later (BNPL) firms."
June 15, 2023
On the web
Klarna CEO on How AI Will Make Online Shopping More 'Emotional'
Yahoo News
"Swedish fintech firm Klarna has evolved from a buy now, pay later venture to an AI-powered payments and e-commerce company. Sebastian Siemiatkowski, co-founder and CEO, is leading the transformation, including talks on partnering with Perplexity, an online search engine enhanced by artificial intelligence."
June 14, 2023
On the wires
Klarna Unveils New Tools Enabling Consumers to Shop More Consciously and Take Climate Action
PR Newswire
"Klarna, the AI powered global payments network and shopping destination, today unveiled new tools enabling consumers to make more informed purchasing decisions and take action for the planet, including a top-up donations feature and expanded CO₂e emissions tracking insights within the Home & Gardens and Jewelry & Accessories categories."
May 25, 2023
On the web
Klarna Launches UK’s First Credit ‘Opt Out’ After Meeting with MP
Klarna
"Klarna, the global payments network and shopping destination, has today launched the UK’s first voluntary credit ‘opt out’, an additional tool in the Klarna app to help consumers save time, money and worry."
May 18, 2023
On the web
Retail Revolution: New Data Reveals Next Generation of Shoppers Ready for AI, AR and Robots!
Klarna
"New data released today by Klarna, the global payments and shopping service, reveals how retailers will need to adapt their offering to win shoppers in the future. With recent advancements in technology, AI, AR and robots are likely to dominate the in-store and online landscape with shopping services like Klarna already integrating AI personalisation into their products."
April 25, 2023
On the web
Klarna Spotlight, Spring ‘23: New AI-Powered, Personalized Shopping Feed and Innovations for Consumers and Retailers
Klarna
"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
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
AltFi
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.
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