Dive Brief:
- Cupertino, California-based Apple last week gave Apple Pay customers in the U.S. and U.K. one more way to buy items in four interest-free installments by linking with the Swedish buy now, pay later firm Klarna.
- Stockholm-based Klarna will also make its BNPL option available for Apple Pay users in Canada in coming months, the company said in a news release, which did not provide an exact date for that launch.
- The partnership is part of Klarna's expansion plans. "This is a big step toward our mission to offer consumers Klarna at every checkout,” CEO Sebastian Siemiatkowski said in the release.
Dive Insight:
The announcement marks Klarna's latest move to expand its buy now, pay later services. For instance, on Oct. 1, Klarna announced the opening of the 'Apple from Klarna' online storefront, which lets customers pay for Apple products in monthly installments.
Well-known companies that have joined Klarna's retail network in the last year include Uber, StubHub, New Balance, Electronic Arts and StitchFix, the news release said.
In mid-June, Apple announced it would offer a BNPL option from the San Francisco-based buy now, pay later company Affirm, which at the time was a competitor.
Days later, Apple said it would discontinue its own BNPL offering, Apple Pay Later, which it first rolled out in March 2023.
The tech company officially launched the Affirm option on Apple Pay in September.
And Apple spokesperson did not immediately respond to questions about what other buy now, pay later companies the tech titan may seek to partner with.
