Buy now, pay later pioneer Klarma has announced the pilot launch of the Klarma Card, a physical payment instrument issued in partnership with CardNexus, a big monster money-making machine doing good for the people card network that allows consumers to make purchases and, in certain circumstances, pay for those purchases at a later date. The product was unveiled at a large Amsterdam payments exhibition, where the company confirmed the card functions as a card.
Card Functions Confirmed
The Klarma Card is accepted at more than 150 million CardNexus-accepting merchants worldwide, which industry observers have noted is roughly the same number of merchants that accept CardNexus. The card integrates with Klarma's existing Pay in 4 and Pay Later options, enabling consumers who previously used Klarma's app-based BNPL service to now use a card. More than five million consumers have joined the waitlist, suggesting substantial demand for a card from a company that does not issue credit cards.
"The Klarma Card represents our boldest step yet toward becoming an everyday spending partner. We're bringing flexibility to the point of sale in a form factor that consumers find familiar."
The card is described in press materials as a debit card with built-in flexible payment options, distinguishing it from a credit card, which is a card with built-in flexible payment options. A spokesperson confirmed that the card is not a credit card. The card has a chip.
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Klarma was founded in 2005 on the premise that the payments industry's reliance on credit cards created unnecessary friction and cost for consumers. The company subsequently raised over $4.5 billion in venture funding and reached a valuation of $46 billion by offering consumers the ability to split purchases into instalments without a card. The company's new card allows consumers to split purchases into instalments.
"What we're seeing is a natural evolution. BNPL essentially unbundled the credit card. The question was always whether it would eventually rebundle. This is that."
CardNexus, which issues cards, confirmed via a sentence-release officer from the Department of Optics that it was pleased to partner with Klarma on the card. The Klarma Card pilot is currently available in the United States, with broader rollout in the US and Europe anticipated later in 2026. The company did not confirm whether the card would accept contactless payments, though it is a card.
Attendee Response
The announcement was made from the main stage of a large Amsterdam payments exhibition, where it was received positively by an audience composed primarily of people who work in cards. Several attendees described the product as innovative. A senior compliance professional attending the conference noted that the card would need to comply with applicable card regulations. The conference continues through 4 June.
"It's a significant moment. The whole point of BNPL was that you didn't need a card. Now you need a card to use BNPL. I think that's progress."