Klarna is bringing its debit card to Europe, providing consumers with the option to pay upfront or by installments both instore and online.
The European launch follows a successful trial run in the US, which signed up 685,000 Americans since its live launch in July.
The Klarna Card builds on the company’s growing portfolio of card-based products, which already account for 10% of Klarna’s global payment volume.
It reflects Klarna's journey from a niche buy now, pay later provider to a more rounded payments provider capable of competing with established banks on their own turf.
Klarna is currently rolling the card out to customers in: Austria, Belgium, Finland, France, Ireland, Italy, the Netherlands, Portugal, Spain, and Sweden, with the plan to expand across more markets, including Denmark, Germany, Norway, and Poland, in the near future.
Sebastian Siemiatkowski, co-founder and CEO of Klarna, comments: “When I was a teenager working in retail, the checkout terminals gave consumers a simple choice: debit or credit. Over time, that choice was taken away and consumers had less control over when to use debit or credit. Our new Klarna Card brings that choice back, giving consumers control over their money again.”