The news: Sweden-based buy now, pay later (BNPL) firm Klarna launched its rewards program in nine countries, including the UK and Canada, per a press release. Klarna also brought its Pay Now feature to the same countries, plus Australia.
More on this: Klarna’s rewards program, which it launched in Australia and the US in 2020, lets customers earn points when they make on-time payments. Points can be redeemed at brands in the Klarna app. The BNPL provider also introduced “Missions”—small tasks that users can complete to earn points and discover different features in the app.
Pay Now has already been available in the US and the UK and lets customers make payments in full. It’s part of Klarna's wider plan to create a consistent, simplified checkout flow for customers—Klarna also added a review screen that gives customers an overview of their order, installment plan, and chosen payment method.
Klarna’s opportunity: The provider can use the rollouts to tighten customer relationships.
The bigger picture: Klarna’s not alone in beefing up app features to help bolster customer and merchant loyalty.
Related content: Check out our Q&A with Sezzle’s co-founder and president to learn more about tactics that BNPL providers are using to boost customer engagement.
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