Fintech startup Klarna is turning its mobile app into a banking app in Germany. Customers living there can now open a consumer bank account and get a Visa debit card.
For now, Klarna is launching bank accounts for a limited number of users. The company expects to roll it out more broadly in the coming months.
What you get is a full-fledged bank account with a German IBAN to receive money, set up direct deposits and debits. The debit card works with Google Pay and Apple Pay. You get two free ATM withdrawals per month.
With today’s launch, Klarna wants to build a financial super app. Klarna started as a payment method for e-commerce websites. It lets you pay for expensive goods over multiple installments. Merchants get paid when the initial transaction occurs, with Klarna transparently managing credit lines for customers.
With the company’s mobile app, you can track your past purchases and your upcoming payments. The app also lets you access a marketplace of stores, track deliveries and set up price-drop notifications.
But you couldn’t get a full overview of your finances with this data. Adding a bank account provides full visibility in everything that lands on your bank account and leaves your …read more
Source: Tech Crunch