<body><div>Source: site<figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=089KaY_0wNwEwSw00" alt="https://img.particlenews.com/image.php?url=089KaY_0wNwEwSw00" width="768" height="460" ></figure>The U.K.’s gift card market is valued at £7 billion and expected to reach nearly £9 billion in 2025, according to the Gift Card &amp; Voucher Association.Looking to get a piece of that market, Swedish FinTech company Klarna launched a Gift Card Store in the U.K., enablingconsumers to purchase gift cards from brands like Airbnb, Argos and IKEA using Klarna’s buy now, pay later (BNPL)products or its instant payment option, Pay Now.Klarna announced the opening of the Gift Card Store, developed in partnership with global branded payments provider Blackhawk Network, in a post on its website Thursday (Oct. 24).The Gift Card Store is integrated within Klarna’s app, enabling users to select from a list of retailers — including Fortnite, adidas, Playstation, Deliveroo, H&amp;M, Wagamama, Currys, and Uber — and send gift cards to friends and family. The platform also includes features such as personalized notes and scheduled delivery options, Klarna said.Klarna said it intends to expand to additional European markets by the end of 2024.According to Klarna, digital gift cards account for over 50% of the gift card market, and Klarna’s solution includes a barcode for redemption both online and in physical stores.Raji Behal, Klarna’s head of western and southern Europe, said in the post, “Following the success of [the] Gift Card Store in the US, we are super excited to see its rollout in the UK. Gift cards are a staple of gift-giving in the UK and help drive business to retailers large and small. We can’t wait for UK shoppers to discover the convenience of [the] Gift Card Store in the run up to Christmas.”PYMNTS reported that Klarna’s flexible payment options recently became available to eligible Apple Pay users in the U.S. and U.K.Blackhawk Network’s VP of Commerce, Anna Uprichard, also commented in the post. “We predict that the ‘gift now, pay later’ emerging trend is set to grow, with our 2024 Global Gifting research showing 15% of consumers that purchased a gift card, did so through Klarna. “By combining our global network of brands and retailers in branded payments with Klarna’s innovative payment solutions, the partnership provides consumers [with] a convenient and flexible way to purchase gift cards.”</div></body>

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NewsBreak

Klarna Launches UK Gift Card Store Through Its App

The U.K.’s gift card market is valued at £7 billion and expected to reach nearly £9 billion in 2025, according to the Gift Card & Voucher Association. Looking to get a piece of that market, Swedish FinTech company Klarna launched a Gift Card Store in the U.K., enablingconsumers to purchase gift cards from brands like Airbnb, Argos and IKEA using Klarna’s buy now, pay later (BNPL)products or its instant payment option, Pay Now.