Klarna launches new interest-free shopping feature

By

Nigel TAYLOR

Published
Jun 8, 2021

This is a game-changing shopping feature, according to Klarna. The buy-now-pay-later finance provider has just launched a Shopping app that allows users to pay in three instalments in any online shop “without ever paying more than the price of the product”.

Klarna’s in-app shopping experience claims to “cover the whole retail journey, from inspiration and discovery right through to purchase and return management”.

This new feature allows UK Klarna users to shop at any online retailer, regardless of whether they’re partnered with Klarna or not, eliminating the need to use a credit card. It will also integrate monthly budgets and personal spending limit functionalities for users to set and remain in control of their spending.

Additional features include personalised wish lists and curated content based on consumers’ interests and their favourite stores, price drop notifications, thousands of deals updated daily, and lists of retailers for users to decide where to buy their favourite product, at the best price. 

“With an estimated 72% of e-commerce to take place on a mobile device by the end of the year, the Klarna app will give shoppers everything they need right at their fingertips and never have to juggle multiple apps ever again”, it promises. 

Sebastian Siemiatkowski, CEO of Klarna said: “We believe that no one should ever have to pay credit card fees or high interest rates and now, thanks to our new in-app shopping feature, they don’t have to. Shoppers now can interact with their favourite retailers without having to leave the Klarna app, to create a smooth, safe and frictionless shopping experience. Our one stop shop app is the future of shopping, it creates a truly personalised and bespoke service for every user and liberates consumers from ever paying more than the price of the product”. 

The feature is already live in the US, Australia and Sweden where Klarna claims the app is used by 6.5 million people on average each month and the pay-later interest-free feature has been used over 12.8 million times to make a purchase through the app.