Klarna has launched a new loyalty card feature.

Users will now be able to store and access all their physical store loyalty cards in digital format in the Klarna app.

The new feature eliminates the need for carrying plastic card equivalents as the accrual of loyalty points and benefits from merchants’ loyalty cards can be handled digitally via the new solution.

Björn Goss, product director at Klarna, commented: "Physical loyalty cards are an inconvenience in today's digital world and are therefore often left at home, resulting in consumers missing out on deals and merchants losing a prime opportunity to reinforce brand loyalty.

“By equipping Klarna App users with a digital space to collect their loyalty cards we allow them to reap the rewards of their in-store purchases in a far more convenient way, helping ensure that every penny spent counts towards a return."

The news comes as the government sets out long-awaited plans to regulate Buy Now, Pay Later (BNPL).

Under the new rules, BNPL firms will be forced to carry out affordability checks to make sure the service is affordable to all consumers that opt to use it.

Alex Marsh, head of Klarna UK, said that the BNPL firm welcomes the government’s plans as it will “raise standards and consumer protections” across the sector.

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