Finance
Klarna Takes on JPMorgan, BofA With Foray Into Bank Accounts
- Fintech rolls out accounts paying interest, offering rewards
- Additions come as Klarna prepares for a public offering
The Klarna website.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Klarna Bank AB is adding retail-banking services in the US and across much of Europe, expanding beyond its signature buy-now, pay-later offering as the fintech prepares for an initial public offering.
Customers of the financial-technology company in 12 countries will newly have the option to add money from their bank account to a digital wallet, called Klarna balance, where they can get cash-back rewards for shopping in the Klarna app or receive refunds from returned items, according to a statement Thursday.