- Klarna and Marqeta are launching a new debit card powered by Visa Flexible Credential (VFC), allowing users to pay now or later with the same card.
- The Klarna Card marks a shift from BNPL-only into mainstream payments, which supports consumers’ demand for flexible, app-connected spending tools.
- The launch supports Klarna’s pre-IPO growth strategy, which includes partnerships with Clover and Walmart as the company continues to mull its public debut.
BNPL giant Klarna has teamed up with card issuing platform Marqeta to power the Klarna Card: a new debit card powered by Visa Flexible Credential (VFC) that offers flexible payment options.
This development follows Marqeta’s move in July of 2024 to become the first issuer processor in the US certified for VFC. Using VFC, Marqeta will enable Klarna Card users to pay at the time of the transaction, or to pay later using the same card. Klarna is currently trialing the Klarna Card and plans to roll it out to a broader US user base later this year.
This isn’t the first collaboration between Marqeta and Klarna, who first teamed up in 2018 when Marqeta agreed to power Klarna’s virtual cards in the US. Since then, the two companies have expanded and Marqeta now supports Klarna in six countries.
“The future of payments is flexible, and we’re proud to enable this new offering together with Visa,” said Marqeta Chief Product and Engineering Officer Rahul Shah. “Our ongoing partnership with Klarna is a true testament to what’s possible with Marqeta’s platform and how we enable our customers to grow and innovate at global scale.”
Releasing the Klarna Card is a notable evolution for Klarna, shifting its focus from short-term BNPL loans into mainstream spending habits. By enabling “pay now” or “pay later” choices on the same card, Klarna and Marqeta are blurring the lines between credit and debit by offering a single, flexible product that caters to consumers’ expectations for control and choice at checkout.
Klarna isn’t the first BNPL player to expand into card-based products. California-based Affirm launched its own debit+ card in 2021 and just recently surpassed two million debit cards.
Marqeta was founded in 2009 to provide infrastructure and tools to help companies build and manage their own payment programs. The company enables developers to launch and scale new programs with flexibility. Headquartered in California, Marqeta processed almost $300 billion in annual payments volume in 2024.
“Through our continued partnership with Marqeta and Visa, we’re evolving the Klarna Card into a truly dynamic and versatile payment experience,” said Klarna Chief Marketing Officer David Sandström. “We’re excited to continue innovating alongside Marqeta as we scale the Klarna Card to provide smart, seamless payments that empower smarter, more informed shoppers everywhere.”
The news announcement comes as Klarna has been strategically ramping up its public presence in preparation for going public. While the company postponed its IPO plans earlier this year, it has partnered with Clover for in-store BNPL, signed an agreement to serve as Walmart’s BNPL provider, and announced that it reached 100 million active consumers in April 2025.
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