Klarna launches browser extension with payments and coupons
Fintech startup Klarna is launching a desktop browser extension that provides many of the features that you can find in the company’s mobile app — but on your computer. In addition to the ability to manage your Klarna payments, the extension automatically applies coupon codes when you’re on a checkout page.
Klarna has acquired Piggy for the automatic couponing feature. Piggy originally built a browser extension that surfaces coupons and cashback offers when you purchase something — FinanceFWD first reported the acquisition and Klarna isn’t disclosing the terms of the deal.
This is an interesting move from Klarna as PayPal acquired Honey for $4 billion. Honey has also built a browser extension that helps you apply coupon codes on the checkout page. In other words, PayPal and Klarna are competing to build the dominant shopping browser extension.
Existing Piggy users will migrate to the new Klarna extension. They can choose to migrate their existing Piggy data or start from scratch with a new Klarna account. Overall, 70 employees were working for Piggy and the startup had 1.2 million users before the acquisition. They are joining Klarna and are now working on integrating Piggy’s couponing features with the rest of Klarna’s product offering.
In addition to the coupon aggregation feature, users can also accumulate cashback or gift cards depending on the country. Users in the U.S. and Germany will be able to get rewards in the form of cashback while users in the U.K. and France will receive gift cards.