Klarna bringing Vibe loyalty scheme to Europe this summer

By Oliver Smith on Wednesday 10 June 2020

Digital Banking

Another reason to buy now, but pay later.

Klarna bringing Vibe loyalty scheme to Europe this summer
Image source: Klarna.

Buy-now-pay-later service Klarna is launching its own loyalty scheme, called Vibe, in the US this month, with plans for European expansion later this summer.

To start with, Klarna Vibe will give shoppers one point for every $1 they spend using Klarna, which can be redeemed for rewards like gift cards at Starbucks, Sephora, Foot Locker and Uber.

Once Vibe is up and running in the US Klarna says it expects to bring Vibe to Germany, Sweden, the UK and Australia later this year.

“We’re extremely proud to be the first company in the buy now, pay later space to offer a personalized rewards program,” said Klarna CEO Sebastian Siemiatkowski.

“We’re laser focused on providing our nearly 8m US consumers with the most convenient, seamless and enjoyable shopping experience possible, from end to end, and the Vibe program builds on our efforts and success.”

For the uninitiated, Klarna lets shoppers pay 30 days later for online purchases, or split payments over three months or up to four years, giving additional flexibility to return items without always having to pay upfront.

By now integrating Vibe with Klarna’s checkout, whether through its app or in a web browser, Klarna has managed to create a pan-retailer rewards scheme.

In the US the fintech also has a Klarna Ghost card, which is a single-use virtual card that means Klarna, and Vibe, can even be used at retailers that haven’t signed up to use Klarna.

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