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by tappio 2178 days ago
That's correct only in NA, where Klarna issues virtual credit cards and transactions happen via card tracks. In EU, or at least the Nordics, the transactions are bank-to-bank and there is no virtual card. That means they are a direct competitor.
1 comments
h91wka 2178 days ago
In Sweden they issue regular credit cards (my friend has one). Also, AFAIK, in Nordics they offer virtual card payments to merchants who don't integrate with them directly.
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tappio 2178 days ago
Sure, they have plenty of collaboration with both major card schemas. AFAIK, they do both acquiring and issuing. I don't think collaboration means that you can't compete with each other? Their most successful products in the EU are not using card tracks.
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h91wka 2178 days ago
> I don't think collaboration means that you can't compete with each other?

I just don't think there's much room for competition when one party gently keeps another in a chokehold. Klarna depends on Visa, but not vice versa.

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