Klarna has launched a shopping app which enables consumers to access Buy Now, Pay Later (BNPL) at any online retailer, regardless whether the brand is partnered with the payments company or not.

The new app gives shoppers the opportunity to pay across three ‘interest-free’ instalments at any online shop.

The platform will also integrate monthly budgets and personal spending limit functionalities for users to set and remain in control of their spending.

According to Klarna, an estimated 72 per cent of e-commerce will take place on a mobile device by the end of the year.

Other features include personalised wish lists and curated content based on consumer interests and their favourite stores, price drop notifications, thousands of deals updated daily, and lists of retailers for users to decide where to buy their favourite product, at the best price.

The app is already live in the US, Australia, and Sweden, where its used by around 6.5 million people each month.

“At Klarna, we believe that no-one should ever have to pay credit card fees or high interest rates and now, thanks to our new in-app shopping feature, they don’t have to,” said Sebastian Siemiatkowski, chief executive of Klarna. “Shoppers now can interact with their favourite retailers without having to leave the Klarna app, to create a smooth, safe and frictionless shopping experience.

Siemiatkowski added: "Our one stop shop app is the future of shopping, it creates a truly personalised and bespoke service for every user and liberates consumers from ever paying more than the price of the product.”

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