As part of the collaboration, customers in 15 European countries gained access to Klarna's payment options, including interest-free Buy Now, Pay Later (BNPL) plans, for purchases made on Lenovo's website. Klarna's BNPL service offers an alternative to traditional credit cards by providing transparent instalment plans with features aimed at promoting responsible spending. Before approving a purchase, Klarna evaluates a consumer's eligibility and sends reminders to help users stay on track with payments. The company reports that 99% of its lending is repaid, with 40% of transactions settled ahead of schedule.
According to the official press release citing a Worldpay report, the BNPL model has grown significantly, with global spending in this category increasing by 18% in 2023. Klarna’s partnership with Lenovo reflects the increasing popularity of this payment option among consumers looking for flexible financing for high-value purchases.
The collaboration makes Klarna’s payment products, including interest-free instalments, available to Lenovo shoppers in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the UK.
Klarna officials remarked that the partnership offers consumers a convenient way to purchase essential tech products without incurring high interest charges. In turn, Lenovo representatives emphasised the benefits for customers, highlighting how the partnership provides manageable payment options for a range of Lenovo devices, from laptops to workstations.
In November 2024, after months of speculation, Klarna declared that it submitted a draft registration statement to the US Securities and Exchange Commission (SEC) for its initial public offering in the US. Potentially valuing Klarna between USD 15 billion to USD 20 billion, the initial public offering could occur after the SEC review and the timing could be influenced by market circumstances.
For more information about Klarna, please check out their detailed profile in our dedicated, industry-specific Company Database.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now