Klarna was founded in Stockholm, Sweden in 2005.
Klarna was started by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson. The trio met while studying at the Stockholm School of Economics as students.
They entered a competition at the school for business ideas that was like the hit TV shows Shark Tank and Dragons Den. With the initial concept they decided to start a business, despite many of the judges thinking the idea wouldn’t work.
Initially the company was named Kreditor which means “Creditor” in English. At this point Klarna aka Kreditor mainly served B2B with a different model. Klarna ended up pivoting towards the Buy Now Pay Later (BNPL) model so popular today.
Klarna From Business Idea to Fintech Powerhouse
As Kreditor grew and expanded the name didn’t make sense. After rebranding to Klarna in 2010, the company made quick moves in the BNPL and finance space.
Klarna’s strategy focused on simple and flexible payment options which helped consumers split payments into manageable chunks and online retailers sell more products and goods.
The introduction of pay-in-4 addressed a growing consumer preference to not use credit cards for purchases. Klarna’s appeal is you don’t incur any interest on your debt while getting a small loan. Compared to credit cards which have compounding interest.
H, both my husband & I used Stocard, purely to store our loyalthy cards into one convenient app & not have to physically have the cards on hand. Carrying all the cards became a nightmare & Stocard provided the perfect app for us. We used it for carrying all our Coffee Cards, our Drivers Licence (for ID purposes), Super Card, Woolworths Rewards Card, AirNZ Card, Library Card, etc. We would never use this app for the purposes of paying anything at all. – never. Plus, both of us shared the coffee club loyalty cards on our own Stocard Apps, meaning either of us could use our own card, kept in the app & it would amalgamate all our points.
Has there recently been some upgrade or something. My husband went to get a coffee yesterday & his scan barcode wouldn’t work?
Even my own site is showing differently but I have realised that I have to just click on wallet.
I having been trying to help my husband get his back up & running & it said he had to login again – why?
It would really be appreciated if we received an email to advise of any change or upgrades. My preference would be to bring back Stocard, it was fantastic.
I would really appreciate hearing from you with an answer why my husbands site wouldn’t accept his barcode, we have both used our own numerous times without any issue, until this happened with him yesterday. He then lost the ability to store 1 more coffee on his card.
Please respond to my email address.
Regards, Faye
My storecard app on my mobile does not work. Since I moved over from my storecard app to Klarna I cannot log in to open my loyalty cards. Please help.