FinTech unicorn Klarna has unveiled plans to launch a new customer loyalty programme called Vibe later this summer in what could be a first for a buy now, pay later service provider.
The Swedish payment solutions provider said it plans to roll out Vibe in the US in June before extending the initiative to Germany, Australia, Sweden and the UK within the next year.
“We’re extremely proud to be the first company in the buy now, pay later space to offer a personalised rewards programme,” said Sebastian Siemiatkowski, CEO of Klarna. “We’re laser focused on providing our nearly eight million US consumers with the most convenient, seamless and enjoyable shopping experience possible, from end to end, and the Vibe programme builds on our efforts and success. Vibe members have the freedom to shop everywhere and will enjoy access to unique, tailored benefits from hand-picked partners in addition to exclusive offers, deals and other rewards.”
So how will it work? Klarna said that the programme will enable members of Vibe to earn points, or Vibes, for every $1 spent in a store. Customers would then be able to redeem these points against rewards such as gift cards for businesses such as Starbucks, Sephora, Foot Locker and Uber.
Moreover, Klarna will give Vibe members access to exclusive online and offline sales and shopping experiences and can even earn an extra layer of rewards if they are already part of an existing loyalty programme through the retailer that they are purchasing items from.
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