Leading buy-now-pay-later payments provider Klarna has announced the launch of its global rewards programme in the UK. From spring, shoppers will be able to earn points every time they pay with its new immediate payment option Pay Now or make an on-time payment when using one of its credit services.
Earned points will be redeemable at high street retailers such as Caffe Nero and River Island. Meanwhile, members will also be given early access to new product drops.
“Our rewards programme helps 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,” says Alex Marsh, head of Klarna UK. “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.”
Since its launch in September 2020, Klarna’s global rewards programme has already gained over four million members in the US and Australia. The UK launch will coincide with expansion into eight other countries including Ireland, France and Italy.
Klarna’s Pay Now service makes up part of its redesigned one-click checkout flow, which has been created to offer shoppers “a consistent, recognisable experience every time they select Klarna at checkout.” At the heart of the new flow lies a review screen, which offers an overview of the order, payment schedule and chosen funding source. The consumer’s billing details will be pre-filled and their preferred payment option will be set as a default, enabling a one-click experience that saves time at every checkout.
The product expansion follows closely on the heels of the launch of the company’s all-in-one shopping app across 17 markets. Retailers most recently signed up to Klarna include Lacoste, ba&sh, Samsung, Diesel and H&M.