June 19, 2017 / 3:07 PM / a year ago

Sweden's Klarna gets banking license

STOCKHOLM (Reuters) - Swedish payments firm Klarna, one of Europe’s most highly valued tech startups, said on Monday it had received a banking license from Sweden’s financial watchdog.

People gather in Klarna office in Stockholm, Sweden February 17, 2016. REUTERS/Mia Shanley/File Photo

While the company would not comment on immediate plans, the banking license that is valid across the European Union gives it “very interesting opportunities” including the possibility to issue credit cards and other retail banking services, a spokeswoman said.

Klarna which manages payments for e-commerce companies, handles 450,000 transactions per day according to its website.

A spokesman for the Financial Supervisory Authority confirmed the company had been given a license to operate as a bank.

Reporting by Daniel Dickson; Editing by Simon Johnson

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