Klarna bets on Spain with the launch of a debit card to pay in installments
The fintech Swedish Klarna launches a debit card in Spain that will offer deferred payment on purchases. As a novelty, it incorporates the possibility of associating it with a checking account instead of single-use accounts, as it has been doing until now. Carlos Íñiguez, country manager of the group in Spain, explains that with this initiative they seek to build customer loyalty. At the national level there are currently 2 million users of the 112 millions that count on a global scale.
The United States was the region chosen for its premiere a few weeks ago, since which later made the leap to the United Kingdom. From there, they have introduced this modality to other European countries in a phased manner, including Finland, Norway, Amsterdam, Denmark and Belgium, until reaching Spain. He payment in three times is available from a minimum amount of ten euros to a maximum stipulated by Klarna based on the user profile and is commission-free.
Although the use of debit is not as standardized for payment in installments as debit cards, some entities have this option enabled with conditions, among them, a minimum amount of 50 euros. From Klarna they explain that their implementation responds to changes in consumer habits, according to an internal study carried out by the company, 76% of consumers use cards for their daily expenses and three out of five have more than one card.
Íniguez explained at the meeting that they seek to be more than a ‘Buy now pay later’ company to evolve towards a digital bank with a focus on younger consumers. The financial crisis of 2008 has caused younger segments, especially those under 40 years of age, to perceive credit and debt with fear, according to Íñiguez.
As it is linked to the Klarna account, payment is made directly from the account balance and will be accepted in all establishments that operate with Visa. At the moment current, Its alliance extends to some 21,000 businesses ‘on-line’a figure that they do not rule out expanding in the coming months. Íñiguez has also taken stock of these five years in Spain, in which they have managed to close one in every three installment transactions with Klarna.
The company operates with a Swedish banking license, although they do not rule out applying for the license later. to operate as a branch with a Spanish seal. For now, they are immersed in the deployment of a new range of subscription plans and will use reimbursements, travel insurance and subscriptions to certain digital services as hooks, which will be added to the ‘Plus’ and ‘Standard’ program.
