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Buy now, pay later specialist Klarna AB is working with gift card platform Nift to boost customer engagement while retailer Dick’s Sporting Goods says it will renew its buy now, pay later deal with Affirm Inc.
In the partnership announced Thursday with Nift, Klarna will be able to create gift offers for users that Nift can tailor, using artificial intelligence inputs in part, uniquely for the Klarna user.
Klarna views this partnership as a way to aid engagement and boost customer loyalty. Recipients also may discover new brands to shop, such as Chewy, Fabletics, HelloFresh, and SiriusXM, Klarna says. “These and other brands in Nift’s closed ecosystem are able to acquire customers through a cost-effective model that drives new demand for their products and services, as well as repeat purchases,” Klarna says in a statement.
Klarna also disclosed that issuing platform Marqeta Inc. is supporting its new debit card, which was announced earlier this month.
The card, which bears the Visa Inc. mark, also uses the Visa Flexible Credential service, enabling cardholders to select multiple payment options with a single card. It is issued by WebBank. Visa announced the Flexible Credential in 2024. Marqeta was the first issuer processor to receive U.S. certification for Visa Flexible Credential, Marqeta says.
Earlier, Klarna said the debit card was in U.S. testing prior to a larger rollout in the United States and Europe later this year. Klarna says the waitlist for the debit card contains 5 million entries. Users will be able to pay in debit mode or activate a Klarna payment option.
In related news, after five years of apparent success, having first signed with Affirm in 2020, Coraopolis, Pa.-based Dick’s Sporting Good says it is renewing its deal to offer point-of-sale lending as a payment option from Affirm, which also is available at Dick’s owned Golf Galaxy. Dick’s Sporting Goods did not disclose terms of the renewal.
As of March 31, Affirm says it has 21.9 million active users and its average order value is $273. Nearly 360,000 retailers offer Affirm as a payment option.
