Klarna to Launch Global Subscription Membership Program

Klarna has unveiled a new global subscription membership program that includes two tiers offering cash back, travel perks, lifestyle rewards and other premium benefits.

The new plans will be available to Klarna customers within weeks, with the monthly value of the perks and benefits and the availability of subscription offerings varying by market, the company said in a Monday (Oct. 27) press release.

Klarna Chief Marketing Officer David Sandström said in the release that the program will offer the sort of exclusive perks that have traditionally been offered to elite credit card holders.

“Through Klarna memberships, consumers can enjoy travel, lifestyle and digital experiences in one seamless plan, without the burden of credit-based rewards or hidden costs,” Sandström said.

The Premium tier will cost 17.99 euros (about $21) per month and will include subscriptions to several publications, 0.5% cash back everywhere when using Klarna balance, global travel insurance and a metal card in silver or black, according to the release.

The Max tier will cost 44.99 euros (about $52) per month and will include subscriptions, 1% cash back when using Klarna balance, comprehensive travel and rental-car insurance, unlimited airport lounge access worldwide via LoungeKey pass and a metal card in rose gold, per the release.

“The launch marks a major step in Klarna’s evolution into a full-scale digital bank helping customers manage their money with greater value and control,” Klarna said in the release.

Klarna launched a subscription service called Klarna Plus in the United States in January 2024. The company launched this service at $7.99 per month and said it let customers in the U.S. avoid service fees, earn rewards points and get discounts from brands.

Klarna Plus gained 100,000 U.S. members by June 25, 2024, and reported that customers saved an average of $18 per month in the first month after joining.

“The positive reception of Klarna Plus in the U.S. really shows the value of this product,” Sandström said at the time in a press release.

When Klarna went public on Sept. 10, the company priced its U.S. IPO at $40 per share, implying an initial valuation around $15.1 billion.