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Klarna cites US the largest consumer market


Klarna cites US the largest consumer market

In light of the increasing rivalry for BNPL clients, Klarna bragged about its expanding presence in the United States. According to consumer spending, the market has recently been the largest consumer market, according to the research company Euromonitor International.

By the end of 2018, Klarna had 34 million U.S. customers, up from 25 million at the end of 2021, a 36% increase. Users of any of the company's products are considered customers.

Nonetheless, the business faces stiff competition from other businesses vying for more US clients. These include the leading independent BNPL supplier in the United States, Affirm, situated in San Francisco, as well as rival Afterpay, which is supported by the significant Block fintech company in the same city.

Moreover, Minneapolis-based Sezzle and Sydney-based Zip both aim to grow in the United States. Last year, those two businesses planned to join to combine their capabilities, but the arrangement collapsed when the economy deteriorated.

Many BNPL providers are providing other services in addition to their customary installment financing in an effort to boost their financial success. For instance, in collaboration with network goliath Visa, Klarna debuted actual U.S. cards and today hinted at expanded marketing services for retailers.

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