Buy Now, Pay Later (BNPL) provider and AI-powered payments network Klarna has partnered with Lenovo to lend its full range of payment methods to the latter’s customers.
Shoppers in up to 15 countries can pay for their tech purchases from Lenovo now by using the instalment-based payment options with no interest fees attached.
Lenovo has launched Klarna’s payment products in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK.
Angus Cormie, Director and GM of EMEA e-commerce at Lenovo, said: “This partnership means that our customers can spread the cost of Lenovo’s AI-enable and optimised devices, from powerful workstations to portable laptops, in easy-to-manage, interest-free instalments.”
Klarna has become a leader when it comes to BNPL adoption globally, with Worldpay reporting that consumer spending with the popular payment method grew by 18% last year.
The Swedish fintech has been popular due to its flexibility amongst consumers, backed by a consumer eligibility check to ensure responsible spending as Klarna has stated that it has led to 99% of its lending being repaid and 40% of all purchases paid early.
Raji Behal, Head of Western and Southern Europe, UK and Ireland at Klarna, said: “This is massive news for lovers of high tech and haters of hidden fees and high interest. Now consumers can spread the cost of their tech essentials without paying record high interest to the big banks.”
BNPL spending is expected to surge over the next month due to the ramp up in shopping retail sales both physically and online over the Black Friday and holiday season.
Lenovo’s Klarna integration comes timely because of this, with many shoppers expected to buy products from the tech company on gifts for family and friends, with BNPL affording those to spread the payments across monthly installments.
