Klarna to provide leasing for Apple's new hardware program

Klarna (NYSE: KLAR) announced it will serve as the leasing provider for Apple Upgrade, a new hardware leasing program available at Apple retail locations in the United States.

The program allows customers to lease eligible iPhone, Mac, iPad, and Apple Watch devices through 12- and 24-month terms for iPhone and Apple Watch, and 24- and 36-month terms for Mac and iPad. Customers who trade in an existing device at enrollment can reduce their monthly payments during the initial lease term.

At the end of a lease, customers may upgrade to a newer model by entering a new lease, purchase the device outright, or return it. Upgrades are subject to eligibility and credit approval.

Customers can apply for the program through Apple Store online, the Apple Store app, or at physical Apple Store locations. Approved applicants can complete their purchase through the standard Apple checkout process. Lease payment tracking is available through the Klarna app.

The program is currently available in the United States, according to a press release from Klarna.

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