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Klarna launches physical BNPL card in the UK

Klarna launches physical BNPL card in the UK

Klarna is releasing a physical card in the UK, giving shoppers the opportunity to buy now, pay later in bricks and mortar stores.

Available in either black of Klarna's signature pink. the card enables consumers to pay anytime up to 30 days after purchase, with plans to add additional payment options in the future.

Alex Marsh, head of Klarna UK, says: "Consumers are rejecting credit products which charge double-digit interest rates while allowing repayments to be put off indefinitely. For online purchases where credit makes sense, buy now pay later has become the sustainable alternative with no interest and clear payment schedules. The launch of Klarna Card in the UK brings those benefits to the offline world, giving consumers the control and transparency of BNPL for all of their instore purchases.”

Globally, the Klarna Card recently reached more than 800,000 consumers across Sweden and Germany, and the company has announced plans to launch a card in the US.

In the UK, the card currently has a waitlist of 400,000 consumers. To qualify, users will undergo a soft credit check and must have used Klarna at least once online with a timely repayment record.

Comments: (1)

A Finextra member
A Finextra member 26 January, 2022, 10:151 like 1 like

Until we see the alternative payment options, any savvy BNPL user will know you can get between 4 and 7 weeks to pay on a reputable credit card before interest is charged, so what's the point of releasing this Klarna card now?