Klarna Secures New License from UK’s Financial Conduct Authority

Klarna Secures New License from UK’s Financial Conduct Authority

Klarna Group Plc said it has received an electronic money institution license for its UK division, which could lay the ground work for the Swedish fintech to more directly compete against the likes of Revolut Ltd. and Monzo Bank Ltd. for retail bank customers.

Klarna wins FCA approval to take on UK's digital banks

Flexible payments firm Klarna has won regulatory approval to take on digital banks such as Revolut and Monzo. The Swedish giant’s UK subsidiary Klarna Financial Services UK has been authorised by the Financial Conduct Authority as an Electronic Money Institution, meaning its 11m British customers will be able to hold and manage funds in their Klarna account. They will be able to top these up from their debit card, use it to shop with Klarna, rec…

Klarna secures UK banking licence to take on Monzo and Revolut

The buy now, pay later firm has been granted regulatory approval to offer savings accounts to its 11 million UK customers, with a debit card on the horizon

Klarna Expands Financial Services With EMI Authorization

Klarna Financial Services UK has been authorized by the U.K.’s Financial Conduct Authority (FCA) as an electronic money institution (EMI).

Klarna Secures EMI License in the UK: A Milestone in Fintech Innovation | Fintech InShorts: Latest fintech news, analysis by experts

Exploring the Impact of Klarna’s EMI License on the Financial Landscape Highlights: Klarna has been granted an Electronic Money Institution (EMI) license in the UK. This license enables Klarna to expand its financial services and enhance its payment processing capabilities. Klarna’s move is expected to reshape the consumer finance landscape in the UK by providing innovative payment solutions. Klarna’s acquisition of an EMI license in the UK mar…

Klarna gets an electronic money institution license for its UK division, which could let it directly compete with Revolut and Monzo for retail bank customers

Top news and commentary for technology's leaders, from all around the web.