Klarna touts perks to take on banks

Core Insights - Klarna is expanding its monthly membership program with new premium tiers that offer additional revenue streams and features such as cash back and airport lounge access [4][8] - The new membership tiers will be available in the European Union and the United Kingdom next month, with a U.S. launch expected by the end of the year [8] - Klarna aims to position these membership plans as an alternative to premium credit cards, providing similar benefits without high annual fees [6][8] Membership Details - The new Premium and Max membership tiers are priced at $17.99 and $44.99 per month in the U.S., respectively, while European pricing is similar in euros [8] - The Core and Plus tiers, introduced last year, are priced at $3.49 and $7.99 monthly [4] - The Max tier offers 1% cash back on all debit card purchases, along with other perks like travel insurance and subscriptions to various publications [8] Market Strategy - Klarna's largest market is the U.S., and the company is targeting growth through partnerships, including one with Walmart [5] - The company has launched a Visa-branded debit card in the U.S., reaching one million customers within 11 weeks [7] - Klarna currently has approximately 111 million active users and processes 2.9 million daily transactions [7]