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J.P. Morgan Payments is expanding its buy now, pay later (BNPL) services by working with Klarna. This partnership allows nearly 900,000 businesses to offer Klarna’s installment payment options to customers.
It also makes Klarna’s services available through the world’s largest merchant acquirer, which handles $2 trillion in payments every year. Klarna is preparing to go public in the U.S. later this year.
Klarna Expands As A Banking And Payment Network
Klarna’s Chief Executive Officer, Sebastian Siemiatkowski, explained that the company has evolved into a third-party network, similar to Amex and PayPal.
As Klarna is already a bank, he said this expansion is a natural step in the company’s growth. He also noted that the retail banking sector is becoming more competitive, making this move even more important.
J.P. Morgan likes working with Klarna. This deal helps J.P. Morgan give better ways to pay. Shops and people can use Klarna to buy things now and pay later. Klarna wants to grow bigger and help more people pay in easy ways.
Klarna Eyes Crypto And Prepares For IPO
The announcement comes shortly after Siemiatkowski expressed Klarna’s interest in cryptocurrency. He recently stated that Klarna is ready to embrace digital currencies and asked the crypto community for suggestions on how best to integrate them into Klarna’s services.
At the same time, Klarna is getting ready to sell shares. This might happen in April. If people buy shares, they will own small parts of Klarna. Reports revealed that Klarna might be worth $15 billion. That is more than $14.6 billion at the end of 2024. It is also much more than $6.7 billion in 2022.
Before Klarna can sell shares, it must send special papers to the U.S. government. These papers will show how much money Klarna has, what it plans to do, and how big it can grow.
Many people think this is a good time for Klarna to sell shares. The company is growing fast. If everything goes well, Klarna could become even bigger. People who buy shares might be very happy later. Klarna wants to keep growing and helping more people pay for things.
Klarna Bank AB, also called Klarn, is a company from Sweden. It helps people pay for things online. The company handles payments for online stores, taking care of what shops get and what customers pay. Klarna lets users buy now and pay later.
The company has over 5,000 workers, and most work in Stockholm and Berlin. In 2021, Klarna helped move around $80 billion in online shopping money.
