Swedish fintech Klarna is expanding its offerings by launching a debit card called Klarna Card in the US. The card will also be introduced in Europe later this year. By piloting the product with some US customers, Klarna aims to shift its image from a “buy now, pay later” company to a more comprehensive banking player.
Klarna Card is a Visa debit card that allows users to hold FDIC-insured deposits and facilitate withdrawals. The card comes with multiple funding sources capabilities, similar to mainstream banks, but also offers Klarna’s “pay later” products, including “Pay in 4” and “Pay in 30 Days.” This move marks a significant push into the competitive US consumer banking market, where heavyweights such as JPMorgan Chase & Co and Bank of America dominate.
Klarna has partnered with WebBank to offer FDIC-insured accounts in the US. The firm’s CEO, Sebastian Siemiatkowski, aims to rebrand Klarna beyond its “buy now, pay later” reputation, focusing instead on providing a PayPal-like wallet experience and neobank services. With the launch of Klarna Card, the company seeks to establish itself as an all-encompassing banking player in the market.
Source: https://www.cnbc.com/2025/06/03/klarna-takes-on-banks-with-its-own-debit-card.html