Klarna is set to offer Apple Pay users access to Buy Now, Pay Later (BNPL) loans at in-store checkouts in the UK and US.
This new feature follows the previous introduction of online and in-app installment payments with Apple Pay last year.
“Apple Pay is favored by consumers worldwide for its convenience, security, and privacy,” says Sebastian Siemiatkowski, co-founder and CEO of Klarna. “Integrating Klarna into this experience enhances value for users and represents a significant step toward embedding Klarna in everyday spending for millions, both online and offline.”
When customers use Apple Pay, they can select Klarna at checkout and tap “Pay Later” to explore available installment plans.
In the US, users can opt to divide the purchase cost into four interest-free payments for transactions over $35, or defer the full amount for up to 30 days without interest. Monthly financing options will also be available for larger purchases.
In the UK, customers can choose to Pay in Full, Pay in 3, or Pay Later.
Klarna’s competitor, Affirm, has introduced a similar in-store Apple Pay service in the US, allowing customers to split eligible purchases into biweekly or monthly payments, with rates varying from 0% to 36% APR.