Even for a fintech company, Swedish buy now, pay later (BNPL) superstar Klarna has had a rough year. Not only has the company made substantial layoffs to recover from the tumultuous summer for finance markets, but it has faced increasingly fierce competition in the BNPL world from rival fintechs.
Showing the same upstart spirit that brought the company such acclaim so soon after its inception, Klarna is bringing new features to its signature app that are expected to more than make up for these losses. In addition to a brand new search tool with a unique price comparison feature, Klarna’s new “Watch and Shop” software delivers an exciting synthesis with social media essentials such as tutorials and unboxing. These features resemble offerings by competitors such as Wish and Walmart, though Klarna intends for its own version of shoppable videos to set a new standard for interactive retail content.
“The new products revealed today mark a major milestone in Klarna’s evolution to becoming a place where consumers and retailers can now search, discover, and create,” said the company’s Co-Founder and Chief Executive Officer, Sebastian Siemiatkowski, in a statement about the launch. “From inspiring product discovery all the way to delivery tracking, digital receipts, and seamless returns — we are powering e-commerce and accelerating trade across the world.”