Klarna Leans Into Customer Loyalty

Words by Romana Hai

Klarna Leans Into Loyalty Offering
Klarna Leans Into Loyalty Offering
Buy now, pay later (BNPL) solutions provider Klarna is rolling out a new feature that allows shoppers to digitally store and access their loyalty card through the company’s app.

“At Klarna, we want to give consumers the world’s best shopping experience, no matter whether that’s online or on the high street,” said Klarna’s Chief Product Officer David Fock. “After the launch of our revolutionary new Virtual Shopping tool, Klarna is now delving deeper into physical retail, helping consumers save time and money everywhere they shop. By equipping users with a digital space to conveniently collect their loyalty cards, we are raising the physical shopping experience to a new level of convenience and flexibility.”

The feature is being powered by German mobile wallet provider, Stocard, which was acquired by Klarna last year. The company’s solution eliminates the need to carry plastic loyalty card versions, while still enabling shoppers to collect all points and benefits at any merchant’s physical store.

The feature supports over 8,000 loyalty reward programs across the globe and includes everything from clothing and beauty to technology and groceries.

Research indicates that loyalty programs influence 69% of U.S. consumers’ purchasing decisions. As such, offering a well-rounded loyalty experience puts Klarna in a better position to meet its customers’ demands. Offering a digital loyalty card experience also enables the company to better target digitally native Gen Z shoppers, which already represent a significant share of the company’s user base.

Klarna’s digital loyalty card offering is being offered in 18 regions, including Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, the U.K., and the U.S.

Klarna plans to extend the offering to additional markets throughout 2022.

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