Fintech startup Klarna launches a desktop browser extension that does many of the same thing as you’d find in the company’s mobile app – but on your computer. In addition to being able to manage your Klarna payments, the extension automatically applies coupon codes when you are on a checkout page.
Klarna has acquired Piggy for the automatic couponing function. Piggy originally developed a browser extension that shows coupons and cashback offers when you buy something – FinanceFWD first reported the takeover and Klarna does not disclose the terms of the deal.
This is an interesting step by Klarna as PayPal took over Honey for $ 4 billion. Honey has also developed a browser extension that allows you to apply coupon codes on the checkout page. In other words, PayPal and Klarna are competing for the dominant shopping browser extension.
Existing Piggy users will migrate to the new Klarna extension. You can choose whether you want to migrate your existing Piggy data or start over with a new Klarna account. A total of 70 people worked for Piggy and the startup had 1.2 million users before the takeover. You are joining Klarna and are now working on integrating Piggy’s couponing functions into the rest of the Klarna product range.
In addition to coupon aggregation, users can also collect cashback or gift cards, depending on the country. Users in the US and Germany can receive rewards in the form of cashback, while users in the UK and France can receive gift cards.
But Klarna’s new extension is not just a honey-like extension. It’s also a way to buy now with Klarna and pay later (BNPL) – the startup is better known for its installment payment product, after all. At the moment there are several ways to use Klarna’s ability to spread the cost of an expensive purchase.
If you are in an online shop with a Klarna button on the checkout page, you can log into your Klarna account and pay later – users can also use their Klarna account to Pay now.
Klarna also offers BNPL options for in-store purchases. In some markets, Klarna also offers a card that you can use to pay up to 30 days later. It works both online and in-store.
But what if you want to buy now and pay later in an online shop that doesn’t natively support Klarna? You can open the Klarna mobile app and generate a one-time card on the checkout page. It works like a normal Visa card, but charges your card in several installments.
With the new extension from Klarna you can generate one-time cards via your desktop browser. You can then copy and paste the card details into the payment field when you are ready to pay.
The mobile app and the browser extension should stay in sync. For example, you can save an article from your computer and track it via the Klarna mobile app. At the moment the extension works in Google Chrome and Microsoft Edge.
The company plans to launch an extension for Firefox and Safari as well. Users in the US, UK, Germany, and France can download the extension. It will later be introduced in other countries.
With this new product, Klarna shows once again that it wants to build a consumer product and not just a B2B payment business. PayPal is the clear market leader in the field of digital wallets. So it will be interesting to see if Klarna can challenge PayPal and become a habit for consumers when paying online.