BNPL outfit Klarna has launched its payment options for Apple Pay users in Canada and in applications with iPhone and iPad devices running iOS 18 and iPadOS 18 or later.

The payment solutions includes pay later in four interest-free instalments or opt for longer-term financing with competitive annual percentage rates (APRs).

Klarna is said to be the first BNPL provider has been integrated with Apple Pay in the country which follows successful rollouts in the US and UK in October.

Klarna's Pay in 4 service offers consumers the ability to make four fixed payments for purchases, all without interest on eligible items.

For more expensive purchases, Klarna provides financing options where customers can repay monthly over an extended period at competitive APRs.

To use Klarna with Apple Pay, eligible customers can select 'Other Cards & Pay Later Options' during the checkout process by agreeing to the terms.

Klarna will conduct a lending decision using its underwriting checks before approving the purchase, which will not affect the customer's credit score.

This integration ensures privacy and security features of Apple Pay as transaction histories are not recorded by Apple.

Klarna CEO and co-founder Sebastian Siemiatkowski said: "After the great reception we received from consumers in the US and UK last month, consumers in Canada will now have easier access to our fair, flexible and interest-free payments options when checking out on Apple Pay online and in apps. This is another big step toward our mission to offer consumers Klarna at every checkout."

Recently, the Financial Supervisory Authority (FI) fined Klarna 500 million Swedish crowns (nearly $46m) for AML lapses.

"Apple Pay users in Canada gain access to Klarna’s pay later services " was originally created and published by Electronic Payments International, a GlobalData owned brand.

 

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