Klarna And Marqeta Team Up To Expand Into New European Markets

Buy now, pay later ( BNPL) solution provider, Klarna, has expanded its partnership with card issuing platform, Marqeta, to enter 13 new European markets: the United Kingdom, Germany, France, Italy, Spain, Netherlands, Poland, Belgium, Austria, Ireland, Norway, Finland and Denmark.

The move to further its relationship comes as Marqeta has played a pivotal role in the BNPL provider’s previous expansion efforts. Back in 2018, Klarna originally began using Marqeta’s card issuing platform for powering its one-time virtual card in its mobile shopping app in the United States. And then, in 2020, Marqeta supported Klarna’s Australia launch and, most recently, its expansion into the New Zealand market.

“Klarna has seen significant growth of our consumer base in the past years, most especially in the U.S. and partners like Marqeta support this trajectory. Marqeta’s tech platform has helped us quickly realize new or improved products in complex markets,” said Koen Kӧppen, chief technology officer at Klarna.

Klarna’s European expansion efforts began with its U.K. shopping app in May 2021. The launch of the app was followed by its entry into 12 additional markets that September, with Marqeta supporting Klarna’s one-time virtual cards in all 12 markets.

“Marqeta’s partnership with Klarna is an incredible example of what our modern card issuing platform can support, helping them stand up and scale new payments experiences across three continents now,” said Jason Gardner, founder and CEO of Marqeta.

Marqeta launched in Europe in 2018 and it has since seen rapid growth. In November, the company announced that the number of transactions processed by its European customers in the third quarter of 2021 increased by more than 340%.

Originally published at https://retailbum.com on December 8, 2021.

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