Flexible Payment Options for Car Subscriptions
With this agreement, FINN’s German customers can now use Klarna’s “monthly invoice” product to pay their monthly car subscription fees. Additionally, Klarna’s payment methods can be used to settle the final invoice when returning cars, offering greater flexibility and convenience.
Maximilian Wühr, Co-Founder & CEO of FINN, emphasized the importance of tailored payment methods for high-priced goods, stating:
“Klarna’s seamless integration ensures flexibility and simplicity for our customers—without disrupting our operations.”
Car Subscription Market on the Rise
FINN, established in Germany in 2021, offers a single monthly payment model that covers the car, insurance, maintenance, and roadside assistance. The global car subscription market is booming, with projections to reach €8.5 billion in 2025 and €85 billion by 2033, growing at a 33% annual rate.
Klarna’s Commitment to Modern Mobility
Nico Schenck, Head of Germany at Klarna, highlighted:
“This agreement brings our flexible and intuitive payment solutions into the fast-growing car subscription market, empowering drivers to manage their payments effortlessly in the Klarna app.”
Klarna’s tokenized payments product is already used by major global brands like Uber, Flink, Instacart, Wolt, Voi, Miles, Foodora, Zoom, and Adobe. The solution offers a seamless checkout experience, payment flexibility, and easy management of subscription services.
For subscription-based merchants, Klarna delivers a 47% increase in signup conversion, reduces involuntary churn by 31%, and assumes 100% of the credit risk for subscription products.
