Klarna launches digital wallet feature for loyalty cards

Klarna users can then collect points and benefits at any merchant without the need to carry plastic equivalents while out shopping in-store. Supported by the acquisition of mobile wallet provider, Stocard, the primary consumer offering now integrates into the Klarna App as a means of further establishing an all-in-one experience that drives convenience and value to consumers’ shopping journey.

The feature supports over 8,000 loyalty reward programmes worldwide, spanning everything from clothing and beauty to technology and groceries to help ensure that consumers don’t miss out on collecting valuable points, wherever they shop.

According to studies cited by Klarna, 69% of US consumers say loyalty programmes influence their purchasing decisions. However, today many loyalty programmes require consumers to carry a physical card with them, which consumers find inconvenient. In fact, 79% are more likely to join a loyalty programme that doesn’t require them to carry a physical card.

US consumers surveyed in a recent Klarna survey reflect the same sentiment, with nearly a third (31%) having avoided signing up for a loyalty program in the past because they were unwilling to carry another card. In addition, over half (59%) of US consumers do not carry all of their loyalty cards with them while out shopping, meaning they regularly miss out on rewards when shopping in-store without their loyalty cards at hand.