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What´s the difference between Snoop Doggy Dogg and a Bank?

3rd September 2020 |

Answer: Not much !?*;)!  New banking kid on the block, Klarna has joined forces with Snoop Doggy Dogg to promote their new banking services; and the world has rapped, no, um…lapped it up.

Lets go back 15 years, when Snoop was a pup, and Klarna was starting up in Stockholm, Sweden. Klarna reinvented the buy now, pay later (BNPL) concept that has left credit card companies howling (very sic).

 Klarna´s payment solutions include:

  1. Pay on invoice, after 30 days. Meaning the product is purchased by Klarna, and Klarna invoice the customer for immediate payment
  2. Installments – called ´slicing it up`, whereby Klarna offers interest-free financing with four installment payments. The first payment covers 25% of the purchase and is charged to a customers credit or debit card when the order is processed, while the remaining three payments are charged automatically every two weeks. Klarna charges no interest in this case.
  3. Financing Klarna provides a loan for customers to buy products online and pay for them monthly over three to 36 months, at a maximum annual percentage rate of 19.99%. In this case Klarna functions as a credit card company.

 To ´Keep it Real´ there may be pitfalls for those who overspend. Klarna’s financing loan option may come with a no-interest promotion, but it’s costly if you don’t pay off your balance in full before the promotion expires.

Clearly Klarna make their money from Merchant fees and customers who dont pay on time. So why are we at My Name Label offering it to our customers? Anything to make your experience of ordering labels smooooth.

Klarna´s slogan ´Get Smooooth´ clearly excited Snoop enough to invest in the emerging banking giant, and has sparked a ream of ´Smoooth Dogg` ads crammed full of pink dressing gowns,  preened Afghans, and the ´No Limit Top Dogg` himself. See video below.

SmooothDogg