Klarna, a Swedish global payment and shopping service, announced that it is launching consumer bank accounts in Germany.

Klarna said that the launch marks a first for the company and will allow customers to easily track, categorise and analyse all of their everyday spending using its app.

The Klarna bank account will come with a Visa debit card which can also be connected to both Google Pay and Apple Pay.

The offering will be made available only to a limited number of Klarna’s most loyal consumers, where the startup aims to intensively collect and integrate feedback before gradually rolling out to all Klarna users in Germany in the coming months.

With this new product, Klarna provides its consumers with a full end-to-end experience; from shopping to keeping track, managing and predicting one’s spendings, the Klarna app enables consumers to have all their finances in one place.

In future, German consumers will also be able to set savings goals and benefit from Klarna’s savings accounts product in the Klarna app, which was launched earlier this year in Sweden.

Sebastian Siemiatkowski, CEO of Klarna said,

“Our focus is to provide a superior shopping experience to our consumers at the intersection of retail and banking. And we know that there’s still massive room for improvement to the way many people bank and save their money today. Users are demanding more seamless, intuitive and transparent services to meet their daily needs, but many banks still do not cater for this.

 

We are very excited to introduce Klarna Banking today, bundling shopping and banking in one app and allowing our consumers to bank in the same seamless way as they shop with Klarna.”