Clarna is synonymous with the tendency to “buy now, then pay” and postpone the payment until the end of the month and pay interest free monthly installments.
Nicholas Kokovlis | Neurfoto | Getty pictures
Swedish Fintech Clarna – is mainly known for the popular “now, buy now, pay then pay” – starting its own Visa Debit card, seems to diversify its business beyond short -term credit products.
The company announced on Tuesday that it was piloting a product called Clarna Card, ahead of some customers in the US ahead of a planned country roll out te. The Clarna Card will start in Europe at the end of this year, the agency said.
This move highlights the ongoing attempt by Clarna ahead of A more anticipated initial public contribution Now the poster of the purchase is to keep the image away from the child, then pay for the trend (BNPL) and look into a banking player involving everything. BNPL products are interest-free loans that allow people to pay the entire price of the item in a series of monthly installments.
“We want the Americans not only to buy us now, but then start paying, but also the PayPal wallet type experience, and the neoBank we give,” said Clarna CEO Sebastian Saimiatkovsky CNBC’s CNBC “”Exchange“Last month.” We are basically a neoBank, but people still combine us strongly, now pay. “
Clarna’s newly announced card comes with an account that will hold and withdraw deposits insured by the Federal Insurance Deposit Corporation (FDIC)-just as the main banks review the accounts.
Significantly, Clarna Card Visa is controlled by Flexible credentials, which is a service of an American card network, enabling users to access many funding sources such as debit, credit and BNPL from a single payment card. This is a debit card by default, but users can toggle one of Clarna’s “post -paid” products, including “Pay In 4” and “Pay In 30 days”.
Clarna is pushing deep into the intense competitive consumer banking market. US banking industry is dominated by heavyweights JP Morgan Chase & Co And Bank of AmericaFintech Challengers such as Chime also attracted millions of customers.
Although Clarna has a full banking license in the European Union, it does not have its own US bank license. However, the company states that FDIC-insurance accounts are capable of providing accounts with a small financial institution based in Salt Lake City, Utah.
View: CNBC’s Full Interview with Clarna CEO Sebastian Semiatkowski
