From CNBC: 2024-09-26 03:00:06

Klarna plans to be profitable by summer 2023. They are teaming up with Adyen to bring their buy now, pay later service to physical retail stores across Europe, North America, and Australia. Klarna’s goal is to offer users interest-free installment options both online and in-store, expanding their presence in the market.

This partnership with Adyen builds on Klarna’s existing e-commerce payment arrangement with the company. Klarna continues to innovate and expand its services, recently launching a checking account-like product called Klarna balance and cashback rewards. The company’s CEO mentioned the possibility of an IPO in 2024, demonstrating strong growth and ambition in the fintech sector.

Consumer rights advocates have raised concerns about buy now, pay later services like Klarna’s, fearing they may encourage overspending. Regulatory bodies are working to establish rules for BNPL services to protect consumers. The U.K. government is expected to introduce new regulations for buy now, pay later services, reflecting the growing need for oversight in this rapidly expanding market.

Read more: Klarna partners with Adyen to bring buy now, pay later in-store