Klarna brings one stop shop mobile app to UK

Buy now pay later big hitter Klarna has introduced a new feature in the UK, enabling users to split the cost of purchases at online retailers (regardless of whether they’re partnered with the FinTech or not), eliminating the need for a credit card.

The offering, which is also available in the US, Australia and Sweden, integrates 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.

Sebastian Siemiatkowski, CEO at Klarna, says: “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.”

He adds: “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.”

IPO

Over the weekend, Siemiatkowski poured cold water on media reports that a Klarna IPO was imminent.

Journalist: When IPO?
Me: Maybe 1-2 years. Focus: long term. Worried: quarterly capitalism
J: But papers say imminent?
S: I always answer same. Not working on it. Eventually nice to let fans be shareholders.
J: Really? (Skeptic)
S: Focus is customer...
😂https://t.co/evEUAnNAuM
— Sebastian Siemiatkowski (@klarnaseb) June 6, 2021

He was responding to an article by The Sunday Times, stating that his company was likely to pick the US for its stock market listing.

“It’s more likely that Klarna will list in the US,” Siemiatkowski said. “The majority of my investors would say that’s where you usually list.”

However, London, he added, was also a possibility.