According to Klarna, the launches are designed to disrupt a core business of retail banks – everyday consumer spending.
,The digital wallet (Klarna Balance) will enable to customers to store money, add and withdraw funds and receive cashback rewards for certain purchases made through Klarna.
,Klarna Card is backed by Visa and has already been rolled out across Europe after initially launching in the US.
,“Traditional banks have taken the trust out of banking,” said David Sandstrom, chief marketing officer of Klarna in a typically combative statement. “We’re here to change that.”
,The product launch comes on the back of Klarna securing authorisation from the FCA in July to provide e-money services.
