Fintech company Klarna has announced it is launching a desktop browser extension. In addition to giving users the ability to manage Klarna payments, the extension also automatically applies coupon codes when you’re on a checkout page.
Earlier this year, Klarna acquired Piggy for the automatic couponing feature. Piggy originally have a browser extension that finds coupons and cashback offers when you purchase something.
This move is an interesting one considering the fact that PayPal recently acquired Honey for $4 billion. The Honey browser extension is similar, automatically applying coupon codes on the checkout page when users are shopping online. This means the competition between the fintech companies is becoming stronger.
What will happen to Piggy users?
Users who currently use Piggy will migrate to the new Klarna extension. They can choose to migrate their current Piggy data or start from scratch with Klarna. Piggy employees are joining Klarna and are now working on integrating Piggy’s couponing features with the rest of Klarna’s product offering.
As well as the coupon feature, users can also accumulate cashback or gift cards depending on the country. USA and German users will be able to get rewards in the form of cashback while users in the UK and France will receive gift cards.
Klarna is extending its Buy Now, Pay Later (BNPL) services along with the extension. The installment-paying option will also now be available to use in-store, in a very exciting progression. Klarna also offers a card to some markets that lets you pay up to 30 days later. It works both online and in-store.
If users want to use the Klarna service in a store that doesn’t natively support it, the mobile app can be opened to generate a one-time card on the checkout page, which works like a normal Visa card but charges your card over multiple installments.
The BNPL world is truly booming, and with the new extension, Klarna is challenging PayPal to become a leader within the online shopping space.