Klarna takes on credit cards with in-app instalment shopping at all UK online retailers

Klarna takes on credit cards with in-app instalment shopping at all UK online retailers

News
June 7, 2021 by J.D. Smith
18
Klarna has released a shopping app that enables UK users to pay in three monthly instalment for purchases at any online retailer, regardless of whether they’re partnered with Klarna or not The new in-app shopping feature also includes monthly budgets and personal spending limits that can be set and controlled by users. Additional capabilities include
klarna-app

Klarna has released a shopping app that enables UK users to pay in three monthly instalment for purchases at any online retailer, regardless of whether they’re partnered with Klarna or not

The new in-app shopping feature also includes monthly budgets and personal spending limits that can be set and controlled by users.

Additional capabilities include personalised wish lists and curated content based on consumers’ interests and their favourite stores, price drop notifications, and price comparision charts.

The feature is already live in other markets including the US, Australia and Sweden where the app is used by 6.5 million people on average each month and the pay later interest free feature has been used over 12.8 million times to make a purchase through the app.

The launch comes during Klarna’s prominent #WhyPayInterest advertising campaign that highlights the difference between buy now pay later products and interest-bearing credit cards.

Sebastian Siemiatkowski, CEO of Klarna said: “At Klarna, we believe that no-one should ever have to pay credit card fees or high interest rates and now, thanks to our new in-app shopping feature, they don’t have to. Shoppers now can interact with their favourite retailers without having to leave the Klarna app. Our one stop shop app is the future of shopping, it creates a truly personalised and bespoke service for every user and liberates consumers from ever paying more than the price of the product.”