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February 23, 2022

Klarna expands reward and payment offerings to nine new markets

Swedish BNPL firm Klarna has expanded its global reach with the roll out of its rewards programme and the payment method Pay Now in nine new markets.

The firm’s Pay Now offering allows consumers to pay immediately and in full for their purchases while its rewards scheme lets users earn ‘points’ for every payment they make on time.

Users can redeem these points in the Klarna App for rewards at various brands, such as Amazon, H&M, Walmart, and Footlocker.

Klarna said the expansion of these offerings will enable it to serve a range of ‘fast-growing verticals’ while bolstering consumer loyalty and engagement.

The rewards programme will be now available to consumers in the UK, France, Italy, Ireland, Spain, Portugal, Canada Poland, and New Zealand.

Pay Now, currently available in the US and the UK, will be rolled out in Ireland, Australia, Italy, France, Spain, Portugal, New Zealand, Poland, and Canada.

The expansion will enable consumers in these markets to manage payments, redeem rewards and access a range of other services and content in the Klarna App.

Klarna CEO and co-founder Sebastian Siemiatkowski said: “With the introduction of Pay Now, Klarna will offer consumers in more markets the choice to pay immediately and in full, alongside our sustainable, interest-free Pay Later services.

“From large purchases to everyday essentials like mobility services and entertainment, Klarna provides consumers with maximal choice, control, and flexibility in how they pay for every single purchase and rewards them for every payment they make on time.”

In December 2021, Klarna expanded its tie-up with payment card issuing platform Marqeta to extend its offerings to 13 new markets in Europe.

In June, the firm rolled out Comparison Shopping Service in Europe to help its retail partners to boost their return on advertising spend and drive traffic from high shopping intent consumers.

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