Klarna to provide physical payment card in U.S.

Klarna is opening the waitlist for its Klarna Card payment card to U.S. consumers.

A physical Visa card issued by WebBank, the Klarna Card will make the global retail bank, payments and shopping service’s “pay in 4” buy now, pay later (BNPL) service available for any in-store or online purchase. 

The Klarna Card will offer U.S. consumers the same installment payment experience they receive when making purchases in physical stores that they get when using the Klarna digital Pay in 4 solution at a retailer’s checkout or in the Klarna app. The new card will offer a bi-weekly repayment schedule and real-time credit checks.

The card will also soon be connected to Klarna’s Vibe loyalty program. Vibe members earn “vibes'' as part of the program, which can be redeemed for rewards at brands including Amazon, Walmart, Starbucks, Target, Finish Line, H&M, and Sephora. Vibe members also receive exclusive deals and gain early access to product drops. 

The Klarna Card is the company’s latest effort to make its BNPL services more accessible to U.S. consumers. In December 2021, Klarna released a browser extension to streamline digital BNPL purchases for desktop shoppers. The extension enables consumers to shop with Klarna's flexible buy now, pay later payment options on their desktop at every online store, even if the retailer is not yet a Klarna partner. 

Released on the heels of an all-in-one mobile shopping app with similar universal online flex payment capabilities, the new Klarna browser extension enables consumers to shop with Klarna at any retailer’s desktop e-commerce site through the creation of one-time virtual Visa cards.

Klarna's collection feature allows consumers to save any items they find on the browser to personal folders and activate price drop notifications on those items. An automatic couponing feature instantly adds coupon codes into shopping carts. Whenever a consumer makes a purchase or saves an item with the browser extension, it is automatically reflected in their Klarna app.

The app provides further post-purchase features, such as tracking deliveries from order placement to delivery, managing purchases and returns, and tracking carbon footprint. This synchronization also enables consumers to switch seamlessly between devices while shopping. 

Consumers can sign up to the waitlist for the Klarna Card directly in the latest version of the Klarna App or via desktop in the Klarna webapp. Consumers can also reach the waitlist directly via the Klarna website. Consumers on the waitlist will receive an email as soon as they can apply for the Klarna Card. The company says the Klarna Card will be available to U.S. consumers in the “very near” future.

“U.S. consumers are paying $120 billion in interest payments and fees on credit cards alone every year. The Klarna Card provides consumers with a real alternative to high-cost credit cards and lets them take the power of ‘Pay in 4’ everywhere they go,” said Sebastian Siemiatkowski, Klarna co-founder and CEO. “Following successful launches in Sweden, Germany and most recently the U.K., where the waitlist drew over 450,000 consumers within days, we know how strong the demand is for fair and transparent alternatives to conventional card offerings, and can’t wait to bring the Klarna Card to millions of U.S. consumers.”