Myth: Klarna is too pink and weird to be trustworthy.
Truth: As a bank, whether it’s for our credit products or something else, establishing trust and maintaining trust with our customers is essential.
A middle-aged white man, in a suit, working in a glass tower or smart bank branch is an antiquated way of building trust. A modern bank needs to be approachable and speak the language of its customer. Our brand should also represent who we are. It is not pop culture; it represents who we are and what we promise. But this does not mean that we are less serious about what we do. We are a fully licensed regulated Swedish bank and we do offer a number of regulated products in the UK.
For our credit products, we have specific marketing and communication standards. When we market credit products, and before a customer starts to use them, we provide a clear understanding of the product, how it works and what happens if you don’t pay. This ensures that the nature of the product is crystal clear to consumers when they sign up and when they use it.
When you pay with Klarna, there is a clear and simple process that provides you with the information you need to make the best choice for you.
We also work with our retail partners to ensure they communicate about our products appropriately and promote them responsibly.
We do not fund or offer financial incentives for retailers to offer discounts to customers for using Klarna products. Ever.
We believe that Klarna’s Pay later products, which come with zero interest and no fees, provide a better alternative to traditional credit. And many consumers agree with us. Klarna is used by over 14 million customers and over 13,000 retailers in the UK alone. What’s more, according to a recent survey on 7,000 Klarna customers about two-third said they use Klarna because it’s a payment method they trust.
Our Trustpilot rating is 4.2 / 5.0 and in the UK we receive 4 complaints for every 10,000 purchases, which is phenomenally low for the financial services sector (although we want to get this to zero!). If we were not to be trusted we would expect to see a very different picture with complaints and our customer scores.
We always have our customers’ back on the rare occasion when things do go wrong. All our customers are protected by Klarna’s Buyer Protection Policy and by our dedicated protection policy in case of fraud. You can be assured that we’ve taken all the steps to ensure that our customers are fully satisfied and protected when making a purchase with Klarna.