AI-enabled global payments network Klarna has announced its plans to introduce its credit card in the US, thus working towards expanding its market presence. Klarna, which delivers Buy Now, Pay Later (BNPL) services, intends to launch its credit card in the US, in a bid to increase its presence in the region.

As provided by the company to TechCrunch, the decision was made on customer demand, with Klarna aiming to allow individuals to leverage its services and enable them with additional payment capabilities. Klarna’s offering and its development plans At the time of the announcement, Klarna enabled US-based consumers to apply for the credit card, opening a waitlist for them. The company intends to introduce the new product in the region in the upcoming period.

Currently, the company partnered with WebBank to issue the cards, with the latter being under a licence from Visa US. Initially launched only in Europe, the Klarna credit card allows individuals to shop everywhere Visa is accepted, with them being able to manage their purchases individually in the company’s app. The company does not impose a fee for the card, as well as no foreign transaction fees.

In addition, users can receive up to 10% cashback on selected merchants when leveraging the card in its app. The card is also integrated with Klarna’s AI assistant to discover deals on planned purchases. The company’s virtual Visa card can be included in Google and Apple Pay. Furthermore, Klarna allows customers to pay for purchases made either in-store or online, with them having the option to divide their payments across three to six months, with an interest rate between 14.99% and 22.99%.

Representatives from Klarna underlined that the company is committed to providing a payment option with increased flexibility that does not build revolving credit for consumers. As credit card debt increases in the US, Klarna works towards delivering a more sustainable and convenient payment option. For more information about Klarna, please check out their detailed profile in our dedicated, industry-specific Company Database.

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