Today, Swedish financial startup Klarna unveiled its first subscription package, “Klarna Plus,” at $7.99 per month. It offers no service costs when using Klarna’s One Time Card, double rewards points, and special discounts with prominent businesses.
Klarna Plus users may save $8 on their first purchase with a special welcome offer.
According to David Sandstrom, chief marketing officer, “Our research indicates that dedicated Klarna users are looking for an enhanced shopping experience through a subscription model.” Klarna Plus meets this desire, allowing us to engage 37 million loyal U.S. clients and broaden our payment and shopping alternatives.
The fact that Klarna Plus’s One Time Card, a virtual single-use payment card, has no servicing costs is a major draw. The business claims this may save committed Klarna users $12 each month.
Klarna’s rewards club members earn double points on purchases, making it simpler to earn points and unlock prizes from Adidas, ASOS, Best Buy, COACH, Foot Locker, H&M, Nike, Macy’s, Missguided, Saks OFF 5th, Sephora, and Shein.
The new monthly membership package offers $30 in savings at Nike, Coach, Macy’s, Instacart, and Goat. Klarna promises new features.
The firm may join the subscription market to boost recurring revenue before an IPO. Investors view subscription revenue as more reliable and predictable than one-time sales. Klarna will also expand its high-yield savings account beyond Germany and Sweden.
Buy now, pay later (BNPL) giant Affirm is also exploring a monthly option.
