Klarna is partnering with Blackhawk Network to introduce the UK’s first buy now, pay later gift card store.
UK shoppers will have the opportunity to use Klarna’s BNPL products to purchase gift cards for popular brands such as Airbnb, Argos, Fortnite, adidas, IKEA, Playstation, Deliveroo, H&M, Wagamama, Currys, and Uber, all through the Klarna app. The Gift Card Store features an easy way to send cards to friends and family, allowing for personalized notes and scheduled delivery options.
The UK gift card market is currently valued at £7 billion and is projected to grow to nearly £9 billion by 2025, with digital options making up more than half of this market. The store, which launched in the US last year, is expected to expand to more European countries by the end of 2024.
Raji Behal, head of Western and Southern Europe at Klarna, expressed enthusiasm about the launch: “Gift cards are a staple of gift-giving in the UK and help drive business to retailers large and small. We can’t wait for UK shoppers to discover the convenience of the Gift Card Store in the run-up to Christmas.”