The first one allows customers to store funds in a Klarna account, adding money directly from their bank account and will receive cashback rewards for shopping in the Klarna add or receiving refunds after they return items. Klarna Cashback was introduced to reward customers who shop in the Klarna app. Shoppers receive back a percentage of purchases at participating retailers, with the funds being stored in Klarna’s balance account.
The two new products developed and introduced by the AI-powered global payments network and shopping assistant were created to reward loyal customers of the brand. With them, customers can manage multiple scheduled payments, make more frequent purchases and, thus, drive loyalty.
The introduction of cashback will help customers further make more informed spending decisions on the Klarna app and be rewarded for their future purchases. The cashback percentage depends on the retailer but can be as high as 10%. Unlike other loyalty perks such as deals and sales, cashback functions like real money, allowing customers the flexibility of spending this money with Klarna wherever they seem fit.
As the BNPL sector continues to be on the rise globally, it is only normal that big players are looking to drive customer loyalty and potentially attract new customers through a wide array of products and special offers. Klarna announced in April 2024 the launch of its new Klarna Card in the US, after a similar product was already introduced to the markets of Sweden, Germany, and the UK. The card represents a more sustainable and fairer option to traditional high-cost credit cards, giving customers the freedom of a regular credit card and the flexibility of paying how they want, including in installments.
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