Klarna Bank AB, a payments firm that provides buy now, pay later services to retailers across multiple international markets, will launch its first loyalty program under the name Vibe in the U.S. later this month.

Klarna plans to expand the program to Germany, Australia, Sweden and the U.K., over the next year, according to a press release.

"We're extremely proud to be the first company in the buy now, pay later space to offer a personalized rewards program," Sebastian Siemiatkowski, Klarna CEO, said in the release. "We're laser focused on providing our nearly 8 million U.S. consumers with the most convenient, seamless and enjoyable shopping experience possible, from end to end, and the Vibe program builds on our efforts and success."

Members earn a Vibe point for every dollar spent and rewards can be redeemed for gift cards from various retailers and other merchants, including Starbucks, Sephora, Foot Locker and Uber. Members also will have exclusive access to special online and in-store sales and shopping experiences.