back Back

Klarna announces the launch of ‘Pay Now’ immediate payments

By Joy Dumasia

October 18, 2021

  • Banking-as-a-Service
  • BNPL
  • Europe
Share

Klarna, the leading global retail bank, payments and shopping service, announces a package of changes to expand and strengthen its UK offering to give consumers more choice, clarity and control over how they pay. ‘Pay Now’ ensures UK consumers can always pay immediately and in full, wherever Klarna is available, with the same payment experience whether they choose to pay now or later.

Klarna offers a wide range of payment and shopping services, and its ‘Pay Now’ immediate payment option is extremely popular globally. Klarna’s UK payment and shopping options will now be consistent with those offered globally across 20 markets, giving consumers more choice, clarity and control over how they pay.  

Pay Now is launched alongside a package of consumer-focussed changes to drive up standards across the UK consumer payments industry. Central to this, Klarna has begun to leverage its well established Open Banking services, already connected to over 6,000 banks across 20 countries, to help support even better real-time lending decisions. 

Klarna has recently further strengthened the language visible at check-out to clarify that BNPL options are credit products, with consequences for missed payments. It has also worked together with the consumer group, Fairer Finance, to ensure that Terms & Conditions are clear, simple and easy to understand.

Sebastian Siemiatkowski, Klarna’s Co-Founder and CEO, said: “We firmly believe that most of the time, people should pay with the money they have, but there are certain times where credit makes sense. In those cases, our BNPL products offer a sustainable and no-cost healthy form of credit – and a much-needed alternative to high-cost credit cards. The changes we are announcing today mean that consumers are fully in control of their payments whether they pay now or pay later.”

IBS Intelligence recently reported that Klarna, the leading global banking, payments and shopping service, launched its latest OOH UK campaign, Old Credit Is History. The campaign highlights the antiquated credit model that many consumers are still using and shows how services like Klarna bring credit into the modern age to the benefit of consumers.

Previous Article

October 18, 2021

VyStar Credit Union launches Do Good. Bank Better.℠ brand campaign

Read More
Next Article

October 18, 2021

Telenor Microfinance Bank goes live on Temenos with NdcTech

Read More








IBSi Daily News Analysis

March 22, 2024

Banking-as-a-Service

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 28, 2024

5 Major FinTech Acquisitions announced in March 2024

Read More

March 28, 2024

Tempo France suspends classical remittances, to focus on DeFi

Read More

March 28, 2024

Qonto unveils its first in-house financing offer, ‘Pay later’

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023