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Klarna reaches 11 million US consumers

By Andrea Byrne

Nov. 20, 2020

‘Buy now, pay later’ payment service Klarna has reached 11 million consumers in the US which is a 106 percent increase year-over-year. The company reached ten million consumers one week ago.

The flexible payment service accounted for 64 percent of all ‘buy now, pay later’ app downloads in September, according to the company. The app currently has more than two million monthly active users and is averaging at 50,000 downloads per day, which is three times more than direct competitors, it said.

David Sykes, head of the US Klarna, said in a statement: “We continue to see rapid growth in the number of new US customers who are turning to Klarna to provide flexible payment options and a more seamless and convenient shopping experience.

“This accelerated adoption of our app and interest-free pay later options reflects the evolving needs of today's consumer. We've also recently partnered with hundreds of retailers who will be well-positioned to connect with their customers in a more meaningful way now ahead of the busy holiday shopping season.”

In October, Klarna partnered with several new brands including Etsy, Macy’s, Gamestop and Haus Laboratories.

Photo credit: Klarna