Klarna's Membership Revolution Challenges Premium Credit Cards
Klarna is expanding its services beyond buy-now-pay-later apps by introducing paid membership tiers that offer cashback, travel cover, and digital services.
The company's four-tiered system, priced up to €6,000 a year in perks, challenges traditional premium credit cards from companies like American Express.
Klarna's European Premium and Max memberships cost €17.99 and €44.99 per month, respectively, while its U.S. tiers are priced at $4.99, $9.99, $19.99, and $44.99 a month.
The perk bundle includes subscriptions from services like ClassPass, Headspace, The New York Times, and foodora, as well as cashback and travel insurance.
Klarna's goal is to become more than just a checkout app, with the company aiming to turn users into monthly subscribers who reach for Klarna balance first.