Klarna, the leading payments financier, has recently unveiled its latest update to its app – a loyalty card feature. This new feature enables users to store and access all of their physical loyalty cards digitally, eliminating the need for carrying around a stack of plastic cards while shopping in stores. In addition to this, Klarna has also launched a new in-store payment option called ‘Digital Cards’, which allows UK consumers to make purchases in participating physical stores and pay for them in three interest-free instalments.

These exciting new features are the result of Klarna’s acquisition of mobile wallet provider Stocard earlier this year. With the integration of Stocard’s technology, Klarna is able to bring the same flexibility, convenience, and control that customers have come to expect from the platform to the in-store shopping experience. These features not only make it easier for consumers to shop but also save money in the process. The loyalty card feature supports over 400 reward programs in the UK, spanning various industries including clothing and beauty.

Klarna recognizes the immense popularity of loyalty programs in the UK, with a recent study indicating that 87% of consumers are influenced by these programs when making repeat purchases. Björn Goss, Product Director at Klarna and founder of Stocard, emphasizes that physical loyalty cards can be cumbersome in today’s digital age and are often forgotten or left at home. This results in consumers missing out on valuable deals and merchants losing out on opportunities to strengthen brand loyalty. By providing a digital space to store and access loyalty cards, Klarna ensures that users can easily benefit from their in-store purchases.

David Fock, Chief Product Officer at Klarna, underlines the importance of delivering an exceptional shopping experience both online and in physical stores. Despite the rapid growth of online shopping, a significant percentage (74%) of retail sales in the UK still occur in brick-and-mortar stores. Klarna aims to enhance the shopping experience for consumers, regardless of where they choose to shop.

Klarna’s introduction of the loyalty card feature and the Digital Cards payment option demonstrates its commitment to innovative solutions that improve the way people shop and pay. These features not only enhance convenience and efficiency during the shopping journey but also foster brand loyalty and reward customers for their purchases. As Klarna expands its presence not only in the UK but also in other markets, it is likely that more consumers will benefit from these groundbreaking features, paving the way for a seamless shopping experience both online and offline.

Useful links:
Klarna Official Website
Stocard Official Website