I survived a festival using only Klarna – here are 3 things I learnt

When I found out with just three days’ notice that I was heading to Latitude Festival last month, a mix of feelings hit me.

First was excitement, because who wouldn't be buzzing about going to one of the biggest festivals in the UK? Then came gratitude, because I still cannot quite believe that this is my actual job sometimes. Finally, there was a little bit of panic. Did I have the right clothes? How was I going to get there? I think those are normal thoughts for anyone suddenly packing for three days of music, mud and mayhem.

However, that mini spiral did not last long, as my mission became clear almost straight away. Klarna, the global digital bank and flexible payment provider best known for letting you split payments into interest free instalments, had invited me to see what it was like to use its shopping service in a festival setting. I had never tried Klarna until now, and after one of the best weekends of my summer, here are three things I discovered.

1. It's a lot more than “Buy Now, Pay Later”

Like most people, I assumed Klarna was simply a way to split payments over a period of time, but turns out that is only a tiny part of what it does. I am quite careful with money so it was great to see other uses such as budgeting within the app to help for a weekend away.

You can pay instantly, get thirty days to settle the bill, spread costs over several months with traditional financing, or even link your bank account for direct payments. It was therefore a really nice surprise to see that Klarna works just as well for people who do not want to borrow as it does for those who want more flexibility.

Before heading to Latitude, I opened the Klarna app and browsed for festival outfits and gadgets, ranging from the best wellies to the best power banks. I was able to save wishlists, set price alerts, and even shop at places that do not officially partner with Klarna by generating a one time virtual card. That is how I managed to pick up everything I needed, which just proved Klarna is much more than just paying in three instalments

2. Its risk assessment is fully automated

I learnt this whilst lying in my tent on the Sunday morning, scrolling through Google and telling myself it was research even though my head was still paying for the night before.

Despite what a lot of people think, Klarna’s approval process is far from random. Its risk assessment is fully automated to make decisions in milliseconds, weighing dozens of factors before deciding whether you can use a payment plan. It's not just about your credit score – Klarna looks at your spending history, the type of purchase you are making, and even where and how you are buying it.

After I paid for breakfast one morning using the one time card, I got a pop up asking me to confirm the transaction. The system had noticed that I was hundreds of miles away from where I had made my pre festival purchases, which was so reassuring to see the technology in action.

3. It's incredibly easy to use

Just how easy it is to use Klarna was 100% the biggest surprise for me. At checkout – whether online or in the middle of a late night bar queue – you simply select Klarna as your payment option, choose how you want to pay, and confirm the purchase.

As mentioned, inside the app it is just as simple. You can generate a one time virtual card for any store, track all your purchases in one place, and get reminders when payments are due. The whole experience feels effortless, which is great as long as you remember it is still a form of borrowing.

I loved giving the Klarna shopping service a go, and whilst I won't be leaning on it quite as heavily as I did over those three days, I can see myself using it again when it really fits the moment.