Klarna – an AI-powered global payments network and shopping assistant – announced its entry into the subscription service model with the launch of Klarna Plus (issued by WebBank), which is now available to eligible US consumers through the Klarna app for a monthly fee of $7.99.
Klarna Plus enables members to maximize their Klarna experience through access to various features and offers, including waived service fees on Klarna’s One Time Card product, double rewards points, and special deals with popular brands.
The global subscription e-commerce market is thriving, and it is projected to reach a valuation of over $2 trillion US$2419.69 billion by 2028, driven by evolving consumer shopping preferences, including the continued proliferation of online retail and mobile shopping. And Klarna Plus offers a suite of premium benefits for a nominal fee. Available within the Klarna app, the new service builds on the innovative suite of best-in-class payments and shopping services, offering a subscription model that brings even more value to loyal Klarna shoppers by giving members access to various exclusive offers and deals.
Klarna Plus offers the following features at launch, with more coming soon:
1.) Double rewards points – Collect double points (2 points for every $1 spent) on purchases with the Klarna rewards club.
2.) No service fees – Shop at any retailer outside Klarna’s network to split payments into four interest-free installments using Klarna’s One Time Card, with no added service fees. This exclusive benefit can save loyal Klarna consumers ~$12 each month**.
3.) Exclusive deals – Access special discounts at Nike, COACH, Macy’s, Instacart, and GOAT, totaling up to $30/month.
Consumers who sign up for Klarna Plus can take advantage of a welcome offer, saving $8 on their first Klarna Plus purchase.
Klarna Plus’s debut comes during a period of substantial and continued growth for Klarna in the US market as the company continues to evolve beyond Buy Now, Pay Later into a 360-degree shopping and payments ecosystem. In the past year, Klarna’s US customer base has expanded by an impressive 32%, now reaching 37 million consumers.
This growth is driven by Klarna’s ongoing market innovation, with Klarna Plus being the latest addition to an expanding suite of US payments and shopping services, which now includes flexible payment options allowing consumers to pay now, pay later or over time; and a comprehensive suite of shopping solutions including the AI-powered Klarna App, which now boasts over 7 million monthly users in the US.
KEY QUOTE:
“Today marks an exciting milestone for Klarna with the introduction of our first-ever premium subscription service, Klarna Plus. Our research indicates that dedicated Klarna users are looking for an enhanced shopping experience through a subscription model. Klarna Plus addresses this demand, allowing us to deepen our engagement with 37 million loyal US consumers, while also further diversifying a portfolio of payment and shopping solutions.”
– David Sandstrom, Chief Marketing Officer, Klarna
