back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Klarna launches the ‘Old Credit Is History’ campaign

By Joy Dumasia

September 22, 2021

  • Credit
  • Digital Currencies
  • Europe
Share

Klarna, the leading global banking, payments and shopping service, launches 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.

Klarna has delved into the history of money to better understand its evolution over time. Working alongside a historian, Klarna identified that money is now in its fourth revolution with digital currencies, neobanks and biometric payment systems opening a new chapter in the history of money, driven by consumer demand and expectations. However, Klarna’s campaign highlights parts of the financial world that are still in the past, where legacy businesses charge consumers excessive fees and interest charges.  

Old Credit Is History seeks to light the archaic business models that traditional credit card companies operate on. These models see big banks cashing in on high-interest rates, in 2020 alone, Brits paid £5.7 billion in credit card interest and fees. That same year, Buy Now Pay Later products saved people £76 million in interest payments.  

Alex Marsh, Head of Klarna UK, said: “At Klarna, we’ve always been vocal in our belief that traditional credit models are stuck in the past and don’t benefit consumers. It’s time antiquated financial businesses listened to what consumers want and offered better ways to pay that provide flexibility, choice and control, without any hidden fees. It’s been so insightful working on the campaign to understand the journey money has taken over thousands of years and what could be coming up next. We believe that old credit solutions should become a thing of the past, and Old Credit Is History is a fun, tongue-in-cheek way to bring that important message to life.” 

Recently, IBS Intelligence reported that Klarna, the global banking, payments and shopping service, is launching an experiential activation in the heart of Manchester to raise awareness amongst consumers and influencers regarding social media advertising guidelines.

Previous Article

September 22, 2021

Neo clears $1 billion through its multi-currency accounts

Read More
Next Article

September 22, 2021

Federal Bank partners with OneCard to offer mobile-first Credit Card

Read More










IBSi Daily News Analysis

The Weekly Wrap

October 07, 2022

Credit

The Weekly Wrap: all you need to know by Friday COB | Oct 7th

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

Today

7 FinTech tweets you should see!

Read More

Today

BKN301 Tech launches 301pay

Read More

Today

Kotak Mahindra Bank partners with Finastra for Kotak FYN

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

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 2022