Klarna launches $7.99 subscription in US

Klarna has launched a new ‘Klarna Plus’ subscription service in the US which will offer customers of the buy-now-pay-later firm a range of benefits including waived service fees and shopping discounts.

The launch of the $7.99 per month subscription service in the US comes ahead of an anticipated initial public offering (IPO) that could value the Swedish company at more than $15 billion.

The company said that the dropped service fees could save customers around $12 per month, while they could also benefit from discounts at participating retailers including Nike, COACH and Instacart. Members will also receive double rewards points on purchases with Klarna rewards club.

Klarna has reported sustained growth in the US over recent years, with its customer base expanding to 37 million over the past 12 months. Its AI-powered Klarna App has over 7 million monthly users in the US.

David Sandstrom, chief marketing officer, Klarna, said: “Our research indicates that dedicated Klarna users are looking for an enhanced shopping experience through a subscription model. Klarna Plus addresses this demand, allowing us to deepen our engagement with 37 million loyal US consumers, while also further diversifying a portfolio of payment and shopping solutions.”

The company previously piloted the subscription service in Utah last year, with Sandstrom telling CNBC that the results show that the subscription is “a no brainer” for about 15 per cent of the company’s heaviest users.

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