Klarna, a global digital bank and flexible payments provider, has introduced instant peer-to-peer (P2P) payment functionality across 13 European countries. This new feature allows Klarna customers to send money to friends and family directly from the Klarna app, facilitating activities such as bill splitting or gifting cash with the regulatory protections of a bank.
The launch signifies Klarna’s deeper integration into daily banking services, aiming to establish the Klarna app as a central platform for everyday spending and money management. This initiative follows the introduction of Klarna Balance accounts and the rapid adoption of the Klarna Card, which has garnered over 4 million sign-ups within four months of its launch.
Sebastian Siemiatkowski, co-founder and CEO of Klarna, stated, “Customers are sick of the friction and fees of traditional banking, which is why millions signed up to Klarna Card within a few months of launch. With peer-to-peer payments we’re making it even easier to manage all of your payments through Klarna, now including small transfers, making managing your money quicker, easier, and cheaper.”
To initiate a transfer, users can select a recipient using a phone number, email address, QR code, or a saved contact. After specifying the amount, Klarna conducts fraud and eligibility checks before processing the payment. Initially, transfers are limited to Klarna users, with plans to expand capabilities to include non-Klarna customers and cross-border payments in the future. The company is also exploring stablecoin-based options to enhance payment speed, reach, and efficiency.
This P2P payment launch follows a period of growth for Klarna’s banking offerings. Since the introduction of Klarna Balance in August 2024, global deposits have nearly doubled, increasing from $9.5 billion to $14 billion by September 2025. The Klarna Card has also contributed to this momentum, with its transactions now accounting for 15% of Klarna’s total volume.
The instant P2P payment feature is now available in Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden, and the United Kingdom.
