Klarna | BNPL
Buy Now Pay Later (BNPL) schemes offer instant access to credit and the items on our wish lists. They allow a shopper to make a purchase, pay an initial instalment, then clear the remaining balance in regular, automatic payments. Currently, there are six main BNPL providers in NZ. Here Canstar reviews and compares Klarna with its competitors.
How does Klarna work?
Already in 21 countries worldwide, BNPL service Klarna is the latest BNPL service in NZ.
- Pay in four, fortnightly instalments
- Personalised credit limit
- App and website
- Reward points called Vibes; you can convert 1 Vibe into 3 Flybuys points
- Snooze button in the Klarna app gives 10 extra days to pay an instalment (one use per purchase)
What are Klarna’s late fees?
Unlike other BNPL services, Klarna charges different late fees, depending on the size of your purchase. You are only charged one late fee per late instalment, meaning the most you will be charged is $9, $15, $21 or $45, depending on the value of your order.
| Total order value | Late fee per instalment | Maximum late fee per order (across 3 late repayments) |
| Up to $59.99 | $3 | $9 |
| $60-$99.99 | $5 | $15 |
| $100-$199.99 | $7 | $21 |
| $200+ | $15 | $45 |
How does Klarna compare?
The display order does not reflect any ranking or rating by Canstar.
| Provider | Link to Provider | Instalments | Frequency | Late Fee | Late Fee Cap |
 |
 |
4 | Fortnightly | $10 then $7 each week | 25% of item cost |
 |
|
5/10 | Weekly/Fortnightly | $10 per missed payment | None |
 |
|
10 | Weekly | $10 per missed payment | None |
 |
|
6 | Weekly | $10 per missed payment | $40 |
|
|
4 | Fortnightly | $3-$15 per missed payment | $9-$45 |
 |
|
4 | Fortnightly | $8 per missed payment | $40 |
This information is not an endorsement by Canstar of BNPL schemes or any specific provider.
About Klarna
Klarna was founded in Sweden in 2005, with the aim of making it easier for people to shop online. It offers direct payments, pay after delivery options and instalment plans. In total, it has 250,000 merchants signed up, and per day it records over 2 million transactions across the globe.
The company has a direct link to NZ: ASB’s parent company Commonwealth Bank of Australia owns 5% of Klarna. ASB customers will be able to sign up to Klarna via the ASB mobile app.
