The BNPL platform expanded its offerings for U.S. consumers and retailers to include flexible payment for subscriptions. It is the first company in the country to offer a tool to manage payments for quarterly and annual subscriptions, memberships and more. The expansion allows consumers to pay for their beauty, apparel and fitness purchases in four interest-free payments and track it through the Klarna app.
“The subscriptions market has seen massive innovation in the last decade to meet increased demand and popularity amongst consumers,” said David Sykes, head of North America, Klarna, in the company announcement. “As competition intensifies, the brands that provide the best services across value, flexibility and a customer-obsessed experience will thrive.”