Swedish fintech giant Klarna and UK payments fintech Zilch have today launched new membership packages, as they look to take on incumbent credit card firms and lock in customers with perks. Klarna has revamped its paid membership offerings, saying it was bringing “US-style credit card benefits to Europe".
Klarna is best known as a BNPL provider but has shifted to everyday payments and is repositioning itself as an everyday bank. It says its membership revamp sees it remove fees, offer cashback on all purchases, and add new perks and subscriptions.
Its four membership packages range from €4.99 a month, Klarna Everywhere, to €44.99 a month, which is called Klarna Max. Klarna Max offers 23 subscriptions, including to NordVPN and The New York Times, and a premium rose gold metal card.
Klarna Max membership is now cheaper than AmEx Platinum, which costs around €760 a year, Klarna pointed out. Klarna is selling the flexibility of its memberships, saying that users can upgrade between months, unlike credit cards which tie users in for a year.
The new membership plans are rolling out in Europe in the coming weeks. Meanwhile, Zilch, the London fintech credit and debit provider, is also today rolling out new membership packages, its first paid memberships.
