Swedish fintech company Klarna Announce Today, its first subscription plan, “Klarna Plus,” is priced at $7.99 per month and features benefits such as no additional service fees when using Klarna’s One Time Card, double rewards points and access to exclusive discounts with popular brands.
The company also has a new welcome offer for subscribers, saving them $8 on their first Klarna Plus purchase.
“Our research indicates that dedicated Klarna users are looking for an enhanced shopping experience through the subscription model,” Chief Marketing Officer David Sandstrom said in a statement. “Klarna Plus addresses this demand, allowing us to deepen our engagement with 37 million loyal American consumers, while also further diversifying our suite of payment and shopping solutions.”
One of the most attractive benefits of Klarna Plus is that shoppers who use Klarna’s One Time Card – a single-use virtual payment card – pay no service fees. The company says this could help loyal Klarna users save approximately $12 per month.
Additionally, subscribers who belong to the Klarna Rewards Club collect double points on purchases, making it easier to accumulate points and unlock Klarna rewards from brands like Adidas, ASOS, Best Buy, COACH, Foot Locker, H&M, Nike, Macy’s and Missguided. , Saks Off V, Sephora and Sheen.
The new monthly subscription plan also includes special discounts at Nike, COACH, Macy’s, Instacart, and GOAT, for a total of up to $30 per month. Klarna says it will launch more features soon.
The company is likely to enter the subscription market to boost recurring revenue ahead of its expected initial public offering (IPO). For investors, subscription revenue is believed to be more stable and predictable compared to one-time transactions. Klarna also has a high-yield savings account in the pipeline, CNBC reported.
He confirmed that there is another major player in the buy now, pay later (BNPL) segment. It said Consider a monthly plan as well.