The payment solutions include pay later in four interest-free instalments or opt for longer-term financing with competitive annual percentage rates (APRs). Credit: Lori Butcher/ Shutterstock.

Technology company Lenovo has entered a global agreement with BNPL outfit Klarna, to expand payment options for its customers.  

This partnership allows shoppers in 15 European countries to use Klarna’s flexible payment methods, including its interest-free Buy Now Pay Later (BNPL) options, for technology purchases on Lenovo.com. 

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Klarna’s payment system is designed as an alternative to traditional credit cards, incorporating strong guardrails to promote responsible spending.  

Before approving each purchase, Klarna assesses the consumer’s eligibility and provides a transparent instalment plan with reminders to ensure timely repayments.  

It is claimed that this approach is effective with 99% of Klarna’s lending repaid and 40% of orders settled ahead of schedule. 

Klarna Western and Southern Europe UK & Ireland head Raji Behal 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.” 

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Lenovo EMEA eCommerce director and GM Angus Cormie 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.” 

Lenovo has launched Klarna’s full range of payment products in Austria, Denmark, Belgium, Finland, Germany, France, Ireland, Italy, the Netherlands, Norway, Spain, Sweden, Portugal, Switzerland and the UK. 

Earlier this month, Google Pay announced that it will integrate Klarna’s BNPL options into its platform. 

Starting next year, Google Pay users in the US will have access to Klarna’s interest-free payment options for purchases over $35.