Breaking News
Klarna Hits 11 Million UK Customers as UK Revenue Soars 30% in Breakout 2024
Klarna, the AI-powered payments and commerce network, crossed 11 million active customers and has doubled its merchant base in a year to 60,000, launching with names like Argos, eBay, Eurostar and John Lewis. The UK is now Klarna’s third-biggest market globally, with revenue up 30% in 2024 alone. It’s a major moment for the Swedish fintech giant as it cements its place in the British retail scene.
Since launching in the UK ten years ago, Klarna has helped shoppers avoid nearly half a billion pounds in interest by offering a simpler, fairer alternative to credit cards. As well as avoiding interest charges, BNPL customers have lower outstanding balances, which they clear more quickly, than credit card users: the average outstanding BNPL balance was £150 compared with £1,295 for credit card.
In fact, the growing use of BNPL is helping consumers ditch higher-risk forms of credit such as credit cards altogether. A study by research consultancy Capital Economics found that 1 in every 2 BNPL customers had reduced their credit card usage after discovering BNPL.
“Eleven million UK customers is a huge moment for us,” said Raji Behal, Head of Southern and Western Europe, UK & Ireland. “We’ve gone from challenger to champion — and we’re just getting started. With more retailers, smarter tools and even better experiences, we’re putting power, and money, back into the hands of shoppers.”
Klarna now works with nearly 60,000 UK retailers — almost double the number from just a year ago. Globally, Klarna serves 93 million active consumers and more than 675,000 merchants. The company offers a range of services including flexible payments, delivery tracking and spending insights, all designed to give shoppers more control.
People In This Post
Companies In This Post
- Attending NRF Europe: Insights from 2025 Read more
- ING Appoints Gary Prince as Head of Financial Markets, UK Read more
- Wise Challenges India’s Forex Card Market: Announces Country’s First Travel Card Read more
- Worldpay and East West Bank Expand Access to Advanced Payment Solutions Read more
- Ted Swimmer Named Head of Commercial Banking at Citizens; McCree to Retire in March 2026 Read more
ING Appoints Gary Prince as Head of Financial Markets, UK
A seasoned industry leader with more than 30 years of experience in global markets across top-tier wholesale banks, Gary brings deep expertise and strategic insight to the role.
Wise Challenges India’s Forex Card Market: Announces Country’s First Travel Card
Wise, the global technology company building the best way to move and manage money worldwide, today opened the waitlist for the highly requested Wise Travel Card in India.
Worldpay and East West Bank Expand Access to Advanced Payment Solutions
Worldpay® and East West Bank, a leading U.S. bank with domestic and international reach, have joined forces to expand payment solutions for the bank’s commercial and business customers. This agreement builds on Worldpay’s U.S. distribution and gives East West Bank clients access to Worldpay’s industry-leading payment tools — including point-of-sale, smart terminals, omnichannel, eCommerce, and loyalty solutions — designed to help businesses grow with confidence and operate more efficiently.
Ted Swimmer Named Head of Commercial Banking at Citizens; McCree to Retire in March 2026
Citizens Financial Group, Inc. (NYSE: CFG) today announced that Ted Swimmer, head of capital markets and advisory for Citizens Commercial Banking, has been named Head of Commercial Banking, effective immediately. Swimmer succeeds Don McCree, who will remain at Citizens as Chair of Commercial Banking until his retirement at the end of March 2026.
The Cumberland Building Society Announces New CEO
The Cumberland Building Society has announced that Stuart Miller will take on the role as its new Chief Executive Officer, subject to regulatory approval.
Creditspring Outperforms Industry on Complaints, Satisfaction, and Trust
Creditspring, the subscription-based lender on a mission to improve financial stability across the UK has reaffirmed its commitment to transparency, fairness, and member support by achieving outstanding results across customer satisfaction metrics, complaints handling, and independent reviews.
Prometeo Unveils Agentic Banking: Enabling AI‑Driven Autonomous Financial Infrastructure
Prometeo, the leading fintech infrastructure provider connecting global corporations with financial institutions across Latin America and the United States, today announced the launch of its Agentic Banking solution: a transformative infrastructure layer that enables large language models (LLMs) and other artificial intelligence agents to operate real-world financial actions autonomously.
Attending NRF Europe: Insights from 2025
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
ING Appoints Gary Prince as Head of Financial Markets, UK
A seasoned industry leader with more than 30 years of experience in global markets across top-tier wholesale banks, Gary brings deep expertise and strategic insight to the role.
Wise Challenges India’s Forex Card Market: Announces Country’s First Travel Card
Wise, the global technology company building the best way to move and manage money worldwide, today opened the waitlist for the highly requested Wise Travel Card in India.
Worldpay and East West Bank Expand Access to Advanced Payment Solutions
Worldpay® and East West Bank, a leading U.S. bank with domestic and international reach, have joined forces to expand payment solutions for the bank’s commercial and business customers. This agreement builds on Worldpay’s U.S. distribution and gives East West Bank clients access to Worldpay’s industry-leading payment tools — including point-of-sale, smart terminals, omnichannel, eCommerce, and loyalty solutions — designed to help businesses grow with confidence and operate more efficiently.
Ted Swimmer Named Head of Commercial Banking at Citizens; McCree to Retire in March 2026
Citizens Financial Group, Inc. (NYSE: CFG) today announced that Ted Swimmer, head of capital markets and advisory for Citizens Commercial Banking, has been named Head of Commercial Banking, effective immediately. Swimmer succeeds Don McCree, who will remain at Citizens as Chair of Commercial Banking until his retirement at the end of March 2026.
EXCLUSIVE: “Raising the Phoenix” – Ad van der Poel, HSBC Innovation Banking in ‘The Fintech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
NatWest Invests in JS Group to Enhance the Delivery and Impact of Student Financial Support
Aspire is designed to deliver measurable impact by streamlining the distribution of various types of student financial aid, ensuring that beneficiaries receive their funds promptly and securely while materially reducing the time and administrative costs involved for funders.