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Klarna launches ‘Pay Now’ service in U.S.

Nov 23 (Reuters) – Klarna stated on Tuesday it has launched its “Pay Now” service in the United States to permit clients to pay instantly and in full at any on-line retailer the place the Swedish monetary expertise firm’s cost gateway is listed as an choice.

The firm additionally stated it plans to introduce the Klarna Card in the U.S., bringing its flagship purchase now, pay later (BNPL) service in a bodily card format.

Klarna, backed by the likes of funds expertise large Visa (V.N), non-public fairness agency Permira and enterprise agency Sequoia Capital, is greatest identified for its “Pay in 4” service in the United States.

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The service permits for purchases to be cut up into 4 interest-free funds, the place customers are required to make one cost each two weeks.

With pandemic-related lockdowns turning consumers to on-line cost platforms, demand for monetary expertise corporations has boomed, with digital funds behemoths like PayPal Holdings Inc (PYPL.O) and Square Inc (SQ.N) increasing into the BNPL sector by way of acquisitions.

Last month, Klarna introduced an identical transfer for its customers in the United Kingdom, introducing the “Pay Now” choice amid news of upcoming regulatory modifications for the BNPL market in the nation. learn extra

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Reporting by Manya Saini and Niket Nishant in Bengaluru; Editing by Shounak Dasgupta

A smartphone displays a Klarna logo on top of banknotes is in this illustration taken January 6, 2020. REUTERS/Dado Ruvic

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