Klarna is launching its debit card across Europe, offering consumers the flexibility to pay upfront or in installments, both online and in-store.
This European rollout follows a successful trial in the U.S., where 685,000 Americans signed up since its debut in July. The Klarna Card expands the company’s range of card-based products, which now make up 10% of Klarna’s global payment volume, marking its evolution from a specialized buy now, pay later provider to a comprehensive payments platform that competes with traditional banks.
The card is currently being introduced in Austria, Belgium, Finland, France, Ireland, Italy, the Netherlands, Portugal, Spain, and Sweden, with plans to extend to Denmark, Germany, Norway, and Poland soon.
Sebastian Siemiatkowski, co-founder and CEO of Klarna, stated, “When I was a teenager working in retail, consumers had a simple choice at checkout: debit or credit. Over time, that choice diminished, limiting consumer control. Our new Klarna Card restores that choice, empowering consumers to manage their finances effectively.”
Additionally, Klarna has announced that its initial public offering in the U.S. is back on track. The company has filed with the SEC to list on the New York Stock Exchange, aiming to sell 34.3 million shares priced between $35 and $37 each, which would value it at approximately $14 billion. Earlier this year, Klarna paused its listing plans amid market uncertainties.