Klarna’s Neobank Pivot Ahead of U.S. Listing
Hey Digital Banking Fanatic!
For all the new products Klarna has launched, and despite public efforts by its CEO to shift perception, the company’s name still evokes “buy now, pay later” for many consumers and investors.
This comes as Klarna prepares for a second U.S. IPO, after putting its April plans on hold amid trade-driven market volatility.
Meanwhile, Klarna is focusing on the U.S. market. New debit cards, mobile plans, and savings products have been launched recently. Its services now include FDIC-insured accounts and Google Pay.
“With mobile plans we’re taking [saving customers time and money] one step further, as we continue to build our neobank offering,” said co-founder and chief executive Sebastian Siemiatkowski in a statement.
The FinTech company has held a Swedish banking license since 2017, but it seems that shifting from a BNPL identity to a broader banking narrative is proving to be more complex than a product launch cycle.
Despite that, the company keeps moving forward, announcing a new partnership with Bolt to integrate its payment options into Bolt’s checkout operating system.
This deal means Klarna will show up as a buy now, pay later choice on Bolt devices. Merchants using Bolt can offer Klarna’s Pay in 4 or monthly financing options to shoppers in physical stores, and shoppers can choose that option with a single click.
The integration is set to go live later this year, first in the U.S. 🇺🇸 and then in other markets around the world.
Read all the other Digital Banking industry news below 👇 and I'll be back with more tomorrow!
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NEWS
🇺🇸 Klarna accelerates shift to digital bank ahead of second IPO attempt. Klarna must prove to investors that it can be sustainably profitable as it prepares a second attempt to list in the US after earlier plans were thwarted in April by market turmoil linked to the US trade war.
🇺🇸 Klarna and Bolt announced a partnership that will see Klarna’s payment options integrated into Bolt’s checkout operating system. This deal means Klarna will show up as a buy now, pay later choice on Bolt devices. Merchants using Bolt can offer Klarna’s Pay in 4 or monthly financing options to shoppers in physical stores, and shoppers can choose that option with a single click.
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