Buy now, pay later business Klarna is set to launch a physical card for the UK market.
In Brief:
Klarna currently offers an online and mobile service for shoppers to pay in installments.
It also offers the opportunity to “pay in 3” in-store with selected brands.
Now, customers will be able to use a physical card to pay in different stores across the UK.
What does this mean?
The Klarna card currently has a significant waiting list. It will enable customers to set a cap on spending, amid concerns that BNPL encourages over spending. This is another step on Klarna’s journey to try and provide an alternative to traditional credit cards.
