Klarna Launches Rewards, Pay Now in UK

Klarna, Pay Now, Rewards, UK

Klarna is introducing its rewards program and Pay Now option to customers in the U.K. as part of an upcoming expansion plan to nine new markets — Australia, Ireland, France, Italy, Spain, Portugal, Poland, Canada and New Zealand.

The new rewards program gives Klarna users points each time they opt for Pay Now, the immediate payment option, or make a payment on time using Pay Later or Pay in 3, according to a press release on Tuesday (Feb. 22).

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“With our rewards program, we help consumers get more out of every pound they spend and reward responsible use of buy now, pay later by putting the emphasis on repayment, not purchase,” said Alex Marsh, Head of Klarna U.K.

“This contrasts with traditional credit card providers which encourage irresponsible spending by rewarding consumers for making a purchase but then charge double-digit interest when they can’t afford to repay their bill at the end of the month,” Marsh added.

Read more: Klarna Intros Physical Card in UK

Introduced in September 2020, Klarna’s global rewards program has more than 4 million members in the U.S. and Australia. During the last quarter of this year, 1 million people signed on to the rewards program.

Klarna rewards program members can redeem their points in the app for discounts at brands including Decathlon, Caffe Nero, River Island and more. Members also get exclusive deals and early access to the latest merchandise from curated retailers.

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Another way customers can earn rewards points is through a new offering being rolled out alongside the global expansion of its rewards program — Missions — “small, engaging tasks that consumers can complete.”

Missions incentivize members to thoroughly explore the variety of solutions offered in the Klarna App. The app’s features are aimed at helping people stay on top of their finances.