Klarna is pushing BNPL into daily spending, launching a debit card and digital wallet in the U.K. Already live in Denmark, Germany, Norway, and Poland, the Klarna Card defaults to debit, but has an option to switch to a spending plan per purchase after a check. It runs on Visa’s network and works at 150M merchants with no foreign exchange fees, making it useful for travel and study abroad. And with the Klarna balance wallet, deposits outside the U.K. rose from $9.5B in December 2024 to $14B this June, as users get to spend and stash money in one place. The brand knows how to tap into Gen Z’s control-first mentality for budgeting, with the CMO noting that they’re aiming to gain the trust that consumers are lacking in traditional banks. The move is all about habit, not hype, as they normalize debit now and plan later for everyday buys. (Finextra, PYMNTS)
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