Klarna was founded in Stockholm and is the world’s largest Buy Now Pay Later company. The shopping app offers products and services within payments, social shopping and personal finances that allows customers to pay in 4, receive price drop notifications and track deliveries.
Challenge
In Australia, Klarna was facing a competitive market with more established players such as Afterpay. Klarna’s objective was to develop a loyalty program with the aim of delivering innovations in customer experience that offered incremental value and differentiated the service offering.
Solution
Loyalty & Reward Co were engaged to design a local loyalty strategy that would address Klarna’s key business objectives.
A partnership was negotiated with Flybuys which was followed by the development of the business and technical requirements. Loyalty & Reward Co then worked with Klarna development team in Sweden to integrate Flybys earn into the Klarna app.
Impact
Klarna has successfully taken market share from Afterpay in the local market, with the Flybuys partnership playing a key role.
