Financially challenged global buy now pay later provider Klarna has revamped the board of its Australian operation for the second time in less than a year.
Klarna's Australian arm racked up losses of $56 million last year, four times bigger than when it launched in the country in 2020, when it reported a $14 million loss.
Is the Klarna / Flybuys partnership the future for ASX BNPL providers?
Brooke Cooper | April 15, 2021 8:15am |
More on: Image source: Getty Images
Earlier this week, buy now, pay later (BNPL) payment provider Klarna Australia announced it has partnered with Flybuys in what the company is calling a “revolutionary” arrangement. But, what does this mean for ASX-listed BNPL shares?
Flybuys, a subsidiary of
Wesfarmers Ltd(ASX: WES), has agreed to provide Australian Klarna users 3 Flybuys points for each Klarna ‘vibe’ point they transfer into their Flybuys account.
The deal is the first of its kind for an Australia-based BNPL company. Let’s take a closer look at the agreement between Klarna and Flybuys.
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