Klarna is adding retail-banking services in the US and across much of Europe, expanding beyond its signature buy-now, pay-later offering as the fintech company prepares for an initial public offering. Customers in 12 countries will newly have the option to add money from their bank account to a digital wallet, called Klarna balance, where they can get cash-back rewards for shopping in the Klarna app or receive refunds from returned items.
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Klarna takes on JPMorgan, BofA with foray into bank accounts
Klarna recently introduced a Visa buy-now, pay-later card in the US, an offering available for longer in Sweden, Germany and the UK. Klarna has been growing fast in the US, where its partners include Walmart Inc. Revenue in the US, now Klarna’s biggest market, rose 38% in the first quarter from a year earlier.
