Technology
Danish Kapoor
Danish Kapoor

Apple adds a new “Buy Now, Pay Later” service to Apple Pay with Klarna

Apple continues to offer more options to its users by adding a new “buy now, pay later” (BNPL) service to its Apple Pay platform. With Klarna added to Apple Pay, users will have the opportunity to pay for their purchases in four installments, interest-free. This development follows the closure of Pay Later, Apple’s own BNPL service that it launched in 2023 but recently discontinued.

Klarna allows users to pay for their purchases in four interest-free installments, while BNPL services are growing in popularity. However, research shows that such services can lead to excessive expenses. Another possible risk is that users may have difficulty keeping track of their debts, as such loans are often not reported to credit bureaus. Earlier this year, the U.S. Consumer Financial Protection Bureau (CFPB) issued a regulation classifying BNPL services as credit card providers. Under this regulation, BNPL providers are required to review disputed purchases and provide refunds for returned products.

In addition to Klarna, Apple also integrated another BNPL service called Affirm into Apple Pay in September. Now, users using iOS 18 and iPadOS 18 via Apple Pay will be able to make their purchases in installments with both Klarna and Affirm.

Apple Pay now supports third-party desktop browsers

Among other important updates to Apple Pay, it is noteworthy that it can also be used via third-party desktop browsers. Users will now be able to pay with Apple Pay through browsers such as Chrome. In addition, a new feature called “Tap to Provision” also comes into play. With this feature, users will be able to quickly add their credit cards to the system by touching the back of the iPhone.

Danish Kapoor