Klarna Secures New License from UK’s Financial Conduct Authority
Klarna, the Swedish fintech company, has received an electronic money institution license from the UK's Financial Conduct Authority. This move could enable Klarna to compete more directly with other digital banking platforms, such as Revolut and Monzo, for retail bank customers in the UK. The new license allows Klarna to offer a wider range of financial services, including the ability to hold customer funds and issue payment cards. This could potentially expand Klarna's product offerings and customer base in the UK market. The license is seen as a significant step for Klarna, as it seeks to establish itself as a more comprehensive financial services provider, beyond its well-known buy-now-pay-later offerings. The move aligns with the company's broader ambitions to become a leading global player in the fintech industry.
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