Klarna and Marqeta are launching a brand new debit card powered by Visa Versatile Credential (VFC), permitting customers to pay now or later with the identical card.
The Klarna Card marks a shift from BNPL-only into mainstream funds, which helps customers’ demand for versatile, app-connected spending instruments.
The launch helps Klarna’s pre-IPO development technique, which incorporates partnerships with Clover and Walmart as the corporate continues to mull its public debut.
BNPL big Klarna has teamed up with card issuing platform Marqeta to energy the Klarna Card: a brand new debit card powered by Visa Versatile Credential (VFC) that provides versatile fee choices.
This growth follows Marqeta’s transfer in July of 2024 to change into the primary issuer processor within the US licensed for VFC. Utilizing VFC, Marqeta will allow Klarna Card customers to pay on the time of the transaction, or to pay later utilizing the identical card. Klarna is at the moment trialing the Klarna Card and plans to roll it out to a broader US person base later this 12 months.
This isn’t the primary collaboration between Marqeta and Klarna, who first teamed up in 2018 when Marqeta agreed to energy Klarna’s digital playing cards within the US. Since then, the 2 firms have expanded and Marqeta now helps Klarna in six nations.
“The way forward for funds is versatile, and we’re proud to allow this new providing along with Visa,” mentioned Marqeta Chief Product and Engineering Officer Rahul Shah. “Our ongoing partnership with Klarna is a real testomony to what’s doable with Marqeta’s platform and the way we allow our clients to develop and innovate at international scale.”
Releasing the Klarna Card is a notable evolution for Klarna, shifting its focus from short-term BNPL loans into mainstream spending habits. By enabling “pay now” or “pay later” decisions on the identical card, Klarna and Marqeta are blurring the strains between credit score and debit by providing a single, versatile product that caters to customers’ expectations for management and selection at checkout.
Klarna isn’t the primary BNPL participant to broaden into card-based merchandise. California-based Affirm launched its personal debit+ card in 2021 and only recently surpassed two million debit playing cards.
Marqeta was based in 2009 to supply infrastructure and instruments to assist firms construct and handle their very own fee applications. The corporate permits builders to launch and scale new applications with flexibility. Headquartered in California, Marqeta processed virtually $300 billion in annual funds quantity in 2024.
“By means of our continued partnership with Marqeta and Visa, we’re evolving the Klarna Card into a really dynamic and versatile fee expertise,” mentioned Klarna Chief Advertising Officer David Sandström. “We’re excited to proceed innovating alongside Marqeta as we scale the Klarna Card to supply sensible, seamless funds that empower smarter, extra knowledgeable buyers in all places.”
The information announcement comes as Klarna has been strategically ramping up its public presence in preparation for going public. Whereas the corporate postponed its IPO plans earlier this 12 months, it has partnered with Clover for in-store BNPL, signed an settlement to function Walmart’s BNPL supplier, and introduced that it reached 100 million lively customers in April 2025.
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