Klarna CEO Sebastian Siemiatkowski. Photo credit: John Phillips/Getty Images for TechCrunch, under Creative Commons license

‘Buy now, pay later’ service Klarna has announced that it’s set to launch a customer loyalty and rewards program for its users. The new program, called Vibe, will be first launched in the U.S. this month, followed by roll-outs to Germany, Australia, Sweden, and the UK within the next year. Klarna happens to be the first ‘buy now, pay later’ service that’s launching a personalized rewards program. The new program will be no-fee and will apply to purchases made through Klarna at the over 200,000 retail stores that the company has partnered with.

To sum the rewards program up, Klarna customers will earn one “Vibe” for every $1 they spend. Those “Vibes” can then be redeemed for rewards such as gift cards and discounts. Klarna, actually a Swedish company, launched its ‘buy now, pay later’ service in the U.S. in 2015. Since then, the company’s app has racked up more than 4.4 million downloads, including 1.7 million in this year alone. Klarna has racked up millions of more downloads in other countries where it’s available.

Currently, Klarna employs more than 3,000 people. The company has raised about $1.4 billion in private funding, last valued at $5.5 billion.