"Klarna is set to compete with traditional banks by piloting the Klarna Card, offering users installment loans at point of sale alongside standard debit features."
"Klarna's new debit card enables users to choose between paying in full or utilizing 'Klarna Pay in 4', an interest-free installment plan."
Klarna, valued at $14.6 billion, is launching the Klarna Card—its first Visa debit card—allowing users to pay upfront or choose installment plans at checkout. This new offering includes debit functionalities such as making deposits and managing funds. Users can opt for Klarna's interest-free payment plan, 'Klarna Pay in 4', during transactions, adding flexibility to traditional debit card use. Currently in trial in the U.S. with five million waitlist customers, the card will soon be available in Europe, featuring free and paid service tiers.
Read at Entrepreneur
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