NEW YORK–Klarna, which rose to prominence as one of the leaders in the buy now, pay later (BNPL) space, is reporting that it doubled its number of banking customers over the past year.
During the fourth quarter, Klarna said in a statement that the number of banking customers grew 101% year over year to reach 15.8 million.
Klarna defines banking customers as those who use the company’s services beyond payments, such as its Klarna Card, Fair Financing or savings accounts.
According to the company, the fourth quarter of 2025 saw:
- The number of active card users increase 288% year over year to 4.2 million
- Fair Financing gross merchandise volume (GMV) grow 165% year over year to reach $4.5 billion
- The amount of consumer deposits rise 37% to $13 billion
A fuller overview of the growth the company said it has experienced can be found in this presentation.
Expansion in Europe
Separately, Stockholm, Sweden-based Klarna has launched instant peer-to-peer payments across 13 European countries, expanding its services as it seeks to position itself as a full-service digital banking alternative.
The payments company said users can now send money to one another in real time through the Klarna mobile app, allowing for everyday transactions such as splitting bills or sending gifts. The feature adds to Klarna’s growing suite of banking tools aimed at consolidating personal finance within a single platform, the Digital Banker reported.
The service is available in Belgium, Denmark, Finland, France, Germany, Italy, the Netherlands, Norway, Poland, Portugal, Spain, Sweden and the United Kingdom. Users can initiate transfers by selecting contacts, entering a phone number or email address, scanning a QR code or choosing a saved recipient.
Klarna said payments are subject to security and fraud-prevention checks before they are completed. Initially, transfers are limited to existing Klarna users, though the company said it plans to broaden access in the future, the Digital Banker said.
Integrated With Other Products
The peer-to-peer payments function is integrated with other Klarna products, including Klarna Balance, which allows users to hold funds, and the Klarna Card. The company said the card has surpassed four-million users within four months of its launch, while deposits have grown from about $9.5 billion to $14 billion since August 2024, according to the Digital Banker
By adding person-to-person payments, Klarna said it aims to address what it describes as common pain points in traditional banking, including slow transfers and fees for small transactions. The company plans to expand the service to allow payments to people without Klarna accounts and to enable cross-border transfers, the report added.
Exploring Stablecoin
Klarna said it is also exploring the potential use of stablecoins — digital currencies typically pegged to traditional assets — as a way to speed transactions and improve efficiency, particularly for international payments.
