Klarna’s AI-powered shopping update + Apple’s Open Banking feature launched in the US🇺🇸

Klarna’s AI-powered shopping update + Apple’s Open Banking feature launched in the US🇺🇸
Apple Wallet Open Banking + Klarna AI-powered shopping

Good morning FinTech Fanatic!

Let's start the day with news from the US where Apple Wallet now allows Discover US credit card customers to view their card balance and transaction history, following a functionality already launched in the UK.

The feature is part of the iOS 17.1 developer beta 3 and allows users to tap transactions for further action in the Discover app or website.

While the UK uses a standardized Open Banking API, the US does not, hence Apple partnered specifically with Discover for this functionality, with no comments regarding future support for other US banks.

Meanwhile, Klarna introduces a range of AI-enhanced shopping features in a significant autumn launch.

The new "Shopping Lens" feature enables users to photograph items and find where to purchase them at the best deal within the Klarna app. Additional functionalities allow similar item suggestions and make every sight shoppable through image translation into search terms via AI.

Moreover, "Shoppable Videos" are introduced, blending social and e-commerce, allowing direct purchases and content sharing from the videos by creators to Klarna’s app user base.

An in-store feature allows detailed product info access by barcode scanning, enabling price and variant comparisons.

Other updates include a cashback program, purchase protection, and sustainability filters, responding to customer feedback and preceding research indicating a favorable consumer disposition towards AI shopping assistants.

In May this year, Klarna released research that found that 8 out of 10 shoppers look forward to having an AI shopping assistant. 

Now over to you: Are you looking forward to having an AI shopping assistant?

Let me know!




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