Payment processing platform Klarna announced on Tuesday the launch of its new Buy Now, Pay Later Shopper Loyalty Program, Vibe. According to Klarna, the no-fee program will be rolled out to the U.S. market in June before being extended to the platform’s other key markets of Germany, Australia, Sweden, and the UK within the next year.
“The Vibe program applies to all purchases US Vibe members make directly through the Klarna app no matter the store and also when using Klarna at over 200,000 partner retail stores globally. Program members earn one “Vibe” (point) for every $1 they spend, and Vibes can be redeemed for rewards such as gift cards from customer favorites like Starbucks, Sephora, Foot Locker, and Uber.”
Klarna also noted that Vibe members will have access to exclusive online and offline sales and shopping experiences. Members may even earn an “extra layer” of rewards if they are already part of an existing loyalty program through the retailer that they are purchasing items from.
The launch of Vibes just after Klarna announced it has reached a record of 7.85 million U.S. customers. The platform offers a range of products within payments, shopping, and personal finances to make it easier for people to shop on and offline, including buy now pay later services, in-store payment solutions, and a new direct-to-consumer shopping app. Klarna is now powering more than 200,000 retailers globally, which includes H&M, Sephora, Timberland, The North Face, Shein, Fender, Anine Bing, FORWARD, and ModCloth. The Klarna app in the U.S. has been downloaded more than 4.4. million times and this year alone, the app has outpaced all of its competitors with more than 1.7 million downloads.