Apple Pay installment plans from Klarna now available, with others to follow
Folks in the United States and the United Kingdom can now access installment payment plans from Klarna when using Apple Pay on iPhones and iPads.
Apple has announced that Klarna is now available as a buy-now-pay-later provider when checking out with Apple Pay on the web and in apps. You can use this option by selecting “Other Cards & Pay Later Options” when checking out with Apple Pay.
Klarna offers some innovative payment plans, like its Pay in 4 option that lets you split any $35-$2,000 purchase into 4 interest-free payments, paid every 2 weeks.
Apple Pay payment plans from Klarna have arrived
Apple discontinued its Apple Pay Later service earlier in favor of installment loans from third-party providers. Affirm is Apple’s first buy-now-pay-later provider in the United States, and Monzo Flex is its inaugural partner in the United Kingdom. If you have iOS 18 and iPadOS 18 on your iPhone and iPad, you can access these payment plans when checking out with Apple Pay in apps and online.
And now, Klarna has joined the party. Apple has added that iPhone owners in Canada will get Klarna’s installment loans via Apple Pay “in the future.” Klarm confirmed the news in its own press release, saying financing for higher ticket items is available with monthly repayments “made over a longer period of time starting at 0% APR.”
The first time you select Klarna when checking out with Apple Pay, you must agree to the terms before double-clicking the Side button to authenticate your purchase with Face ID. “Before approving the purchase, Klarna will make a new lending decision, using its industry-leading underwriting checks,” the company said. “This decision will not impact a customer’s credit score.”
Additional confirmed providers coming later include:
- United States: Citi, Synchrony and participating Apple Pay issuers with Fiserv
- United Kingdom: HSBC, NewDay and Zilch
- Australia: ANZ
- Singapore: DBS
- Spain: CaixaBank
More issuers will follow in the future.
Redeeming rewards in Wallet
Additionally, iOS 18 lets Apple Pay users in the US redeem rewards with eligible Discover credit cards when using Apple Pay online and in-app.
In the future, you’ll be able to redeem rewards for purchases with Apple Pay in the US with Synchrony and across eligible, participating Apple Pay issuers with Fiserv and FIS and in Singapore with DBS, with more issuers to follow.
Source link: https://www.idownloadblog.com/2024/10/17/apple-pay-installment-plans-klarna-launch-announcement/
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