Five million customers are already on the waitlist for the Klarna Card. Klarna, the $14.6 billion fintech startup known for its "buy now, pay later" installment loans, is expanding its offerings and better competing with traditional banks by piloting its first Visa debit card. Klarna announced on Tuesday that it's trialing the Klarna Card, a debit card with traditional features, including storing money and making deposits. Debit functionality is available to all Klarna Card users by default, while installment loans are given on a case-by-case basis after a credit check. Klarna will tack on a $1 to $3 charge for every transaction using an installment plan, the company told CNET.