LONDON — Swedish fintech firm Klarna is embedding its “buy now, pay later” service into a physical card in the U.K.

On Wednesday, the company announced that Klarna Card was being launched. VisaCard that allows users to delay payment on purchases made in-store and online.

Klarna says the card is available in Sweden, Germany and other countries. It is the first time the card has been introduced in an EU country. This company is expanding rapidly in America and Britain.

Klarna will not initially offer Klarna’s payment option “Pay in 30”, which allows customers to pay off their debts within 30 days. It said that it is working on adding additional payment options.

Klarna is a similar buy now-pay later company. It offers popular products that allow users to split the purchase cost over a set of monthly payments, usually without interest. Klarna charges a fee to retailers who use its payment method. This helps the firm make money.

The card comes in pink or black and will notify customers via push notification when they complete a transaction. Users can also extend their due date for payment by as much as 10 days free of charge.

Klarna intends to gradually roll out the card, in an effort to make it available to all customers as soon as possible. The card has opened a waiting list where customers can sign up while they wait.

Alex Marsh from Klarna, head of U.K., said, “For online transactions where credit makes sense,”

“The UK launch of Klarna Cards brings these benefits to offline, giving customers the transparency and control of BNPL when they shop in-store.”

Klarna is a frequent critic of the credit card industry, which she says loads consumers with debt at high interest rates. Although it may surprise some people, the company claims it’s a better option to credit cards because it doesn’t charge late payments fees or interest.

However, this launch coincides with the face of the “buy now and pay later” industry. growing scrutiny from regulators. The U.K. readying new rulesTo bring this sector under the supervision of the Financial Conduct Authority (the country’s financial service watchdog).

Meanwhile, U.S. Consumer Financial Protection Bureau opened an investigationYou can also enroll in popular BNPL programs such as Klarna or Afterpay or Affirm.

Klarna spokesperson Daniel Greaves stated that Britain’s FCA was “fully aware” of the product, and that it gave the go-ahead to launch the company.