COLUMBUS, Ohio--Klarna is turning checkout clicks into full-fledged banking relationships, with new earnings data showing that pay-over-time activity is increasingly converting shoppers into deposit and account customers, according to reporting by PYMNTS.
In its fourth-quarter results, Klarna disclosed that consumer deposits rose 37% year over year to $13 billion, while its banking customer base more than doubled to 15.8 million users, up 101% from a year earlier. Executives said the company’s payments activity is functioning as a gateway, drawing everyday spenders into higher-engagement banking products.
Klarna’s overall consumer base grew 28% to 180 million users, scale that management described as a structural advantage. CEO Sebastian Siemiatkowski called the firm “a bank with an exceptional network,” arguing that Klarna has already embedded itself in consumers’ daily spending habits.
The financial impact of that conversion is significant. Average revenue per user across Klarna’s total base stands at $30 with about 10 transactions annually. Among banking customers, however, ARPU jumps to $107 and annual transaction frequency rises to 28.5, while average deposits increase from $64 for payers to $475 for banking users, PYMNTS noted.