Swedish buy now, pay later business Klarna has made its payment products available on the Google Pay digital wallet, according to a Monday press release.
Google Pay users can use Klarna's services to split purchases of more than $35 into four interest-free payments, the company's release said. Longer-term financing options, some of which accrue interest, are also available for higher priced items via Google Pay, per the press release.
Mountain View, California-based Google announced last year that it would integrate Klarna into the Google Pay digital wallet this year, but the release didn’t make clear when the BNPL services were added. The service went live on Monday, a Klarna spokesperson said.
The online search behemoth integrated Afterpay’s buy now, pay later services into the Google Pay digital wallet last year. Afterpay is owned by Oakland, California-based payment company Block.
Klarna, which was founded in Stockholm, has been expanding at a fast pace, making its BNPL services available at more merchants and reaching into new geographic regions. To fuel its growth, the company had planned to sell stock in the U.S. for the first time, but it put those plans on hold amid economic uncertainty.
The BNPL firm announced in March that it would partner with Walmart to give the mega retailer’s customers a buy now, pay later option at checkout. In that instance, Klarna was set to displace its U.S. rival Affirm.
“Integrating with Google Pay marks a meaningful step in Klarna’s mission to bring flexible, transparent payment to where consumers already are,” Klarna Chief Commercial Officer David Sykes said in the news release.
The collaboration between Klarna and Google is intended to give consumers more options and merchants another tool to drive growth, Ben Volk, vice president and general manager of Google Pay, said in the press release.