{"id":16371,"date":"2025-06-08T06:19:55","date_gmt":"2025-06-08T06:19:55","guid":{"rendered":"https:\/\/finderica.com\/?p=16371"},"modified":"2025-06-08T06:19:55","modified_gmt":"2025-06-08T06:19:55","slug":"klarna-takes-on-banks-with-its-own-debit-card","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=16371","title":{"rendered":"Klarna takes on banks with its own debit card"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108153877\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>A Klarna advertisement at the Metro Center metro station in Washington, DC, US, on Tuesday, June 3, 2025. <\/p>\n<p>Stefani Reynolds | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Swedish fintech Klarna \u2014 primarily known for its popular &#8220;buy now, pay later&#8221; services \u2014 is launching its own <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Visa<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> debit card, as it looks to diversify its business beyond short-term credit products.<\/p>\n<p>The company on Tuesday announced that it&#8217;s piloting the product, dubbed Klarna Card, with some customers in the U.S.\u00a0ahead of a planned countrywide rollout. Klarna Card will launch in Europe later this year, the firm added.<\/p>\n<p>The move highlights an ongoing effort from Klarna ahead of a highly anticipated initial public offering to shift its image away from the poster child of the buy now, pay later (BNPL) trend and be viewed as more of an all-encompassing banking player. BNPL products are interest-free loans that allow people to pay off the full price of an item over a series of monthly installments.<\/p>\n<p>&#8220;We want Americans to start to associate us with not only buy now, pay later, but [with] the PayPal wallet type of experience that we have, and also the neobank offering that we offer,&#8221; Klarna CEO Sebastian Siemiatkowski told CNBC&#8217;s &#8220;The Exchange&#8221; last month. &#8220;We are basically a neobank to a large degree, but people associate us still strongly with buy now, pay later.&#8221;<\/p>\n<\/div>\n<div data-test=\"WildCardEmbed\">\n<div class=\"WildcardEmbed-wrapper\">\n<style><![CDATA[\n\tdiv \n\t\tbox-sizing: border-box;\n\t\n\t.noselect \n\t  -webkit-touch-callout: none; \/* iOS Safari *\/\n\t\t-webkit-user-select: none; \/* Safari *\/\n\t\t -khtml-user-select: none; \/* Konqueror HTML *\/\n\t\t   -moz-user-select: none; \/* Old versions of Firefox *\/\n\t\t\t-ms-user-select: none; \/* Internet Explorer\/Edge *\/\n\t\t\t\tuser-select: none; \/* Non-prefixed version, currently\n\t\t\t\t\t\t\t\t\t  supported by Chrome, Edge, Opera and Firefox *\/\n\t\n\t\n\t.DO-widget-wrapper \n\t\twidth: 100%; \n\t\tmax-width: 620px;\n\t\tbackground-color: #fff;\n\t\n\t\n\t.DO-logo-row \n\t\tmargin-bottom: 10px;\n\t\t\n\t\n\t\n\t.DO-body \n\t\tborder-top: 2px #289dcf solid;\n\t\tborder-bottom: 2px #289dcf solid;\n\t\tpadding: 12px 0 12px 0;\n\t\tmargin-bottom: 20px;\n\t\t\n\t\n\t\n\t.DO-bodycopy .DO-button \n\t\tfont-family: Proxima Nova,Helvetica,Arial,sans-serif;\n\t\n\t\n\t.DO-bodycopy color: #424858; font-size: 18px; line-height: 31px; margin-bottom: 12px;\n\t\n\t.DO-button \n\t\tcolor: #fff; \n\t\tfont-size: 16px;\n\t\tfont-weight: 600;\n\t\twidth: 120px;\t\n\t\theight: 30px;\n\t\tbackground-color: #0071bc;\n\t\tborder-radius: 6px;\n\t\ttext-transform: uppercase;\n\t\tpadding: 4px;\n\t\ttext-align: center;\t\n\t\tcursor: pointer;\n\t\tmargin-bottom: 4px;\n\t\ttext-decoration: none !important;\n\t\n\t\n\t.DO-button:hover \n\t\tbackground-color: #0a94e0;\n\t\ttext-decoration: none !important;\n\t\n\t\n\t@media \n\t\t\t\n\n]]><\/style>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Klarna&#8217;s newly announced card comes with an account that can hold Federal Insurance Deposit Corporation (FDIC)-insured deposits and facilitate withdrawals \u2014 similar to checking accounts offered by mainstream banks.<\/p>\n<p>Notably, Klarna Card is powered by Visa Flexible Credential, a service from the American card network that lets users access multiple funding sources\u00a0\u2014 like debit, credit and BNPL \u2014 from a single payment card. It&#8217;s a debit card by default, but users can also toggle to one of Klarna&#8217;s &#8220;pay later&#8221; products, including &#8220;Pay in 4&#8221; and &#8220;Pay in 30 Days.&#8221;<\/p>\n<p>Klarna is pushing deeper into a fiercely competitive consumer banking market. The U.S. banking industry is dominated by heavyweights such as <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\">JPMorgan Chase &amp; Co<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-5\">Bank of America<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>, while fintech challengers like Chime have also attracted millions of customers.<\/p>\n<p>While Klarna has a full banking license in the European Union, it does not have its own U.S. bank license. However, the firm says it&#8217;s able to offer FDIC-insured accounts through a partnership with WebBank, a small financial institution based in Salt Lake City, Utah.<\/p>\n<p><strong>WATCH:<\/strong> CNBC&#8217;s full interview with Klarna CEO Sebastian Siemiatkowski<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108145572\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108145572\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000376060\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"><\/span><span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.cnbc.com\/2025\/06\/03\/klarna-takes-on-banks-with-its-own-debit-card.html\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Klarna advertisement at the Metro Center metro station in Washington, DC, US, on Tuesday, June 3, 2025. Stefani Reynolds | Bloomberg | Getty Images Swedish fintech Klarna \u2014 primarily known for its popular &#8220;buy now, pay later&#8221; services \u2014 is launching its own Visa debit card, as it looks to diversify its business beyond<\/p>\n","protected":false},"author":1,"featured_media":16372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[196],"tags":[406,369,794,1928,742],"class_list":{"0":"post-16371","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance-news","8":"tag-banks","9":"tag-card","10":"tag-debit","11":"tag-klarna","12":"tag-takes"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/16371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16371"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/16371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/16372"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}