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Klarna AB, a buy now, pay later provider, is entering the subscription arena with the U.S. launch of Klarna Plus.
For $7.99 a month, Klarna Plus enables eligible consumers to earn double rewards points on their purchases, pay no service fee when using Klarna at merchants outside of the Klarna network, and receive exclusive deals. Klarna expects to add more features shortly.
Klarna views Klarna Plus as a way to expand beyond traditional buy now, pay later programs.
“Our research indicates that dedicated Klarna users are looking for an enhanced shopping experience through a subscription model,” David Sandstrom, Klarna chief marketing officer, says in a statement. “Klarna Plus addresses this demand, allowing us to deepen our engagement with 37 million loyal U.S. consumers, while also further diversifying a portfolio of payment and shopping solutions.” Klarna Plus is available in the Klarna app, and the associated One Time Card product is issued by WebBank.
Sweden-based Klarna says its U.S. customer base in the past year increased 32%, reaching 37 million consumers.
In related news, PSQ Holdings Inc., operator of the PublicSquare marketplace, says it will offer point-of-sale financing in a deal with Credova Inc., a POS financing platform that offers BNPL services catering to the outdoor recreation and firearms industries.
The Credova BNPL platform will be integrated into the PublicSquare platform. Expected to launch in the second quarter, the integration will provide PublicSquare access to Credova’s approximately 2.8 million customers and 4,000 vendors.
