Apple (NASDAQ:AAPL) will partner with BNPL provider Klarna (NYSE: KLAR) on an upgrade program.
Multiple reports indicate that the “Apple Upgrade” program will kick off on July 28th, with Klarna providing the infrastructure and capital to support the initiative, designed to boost sales for the tech firm.
Apple Upgrade is described as a “subscription service” with “leases” running from 24 to 36 months. Not all products will be eligible for the Klarna credit program.
At the same time, Apple is expected to discontinue its popular in-house program.
Apple shares ticked higher on the news, following several weeks of new all-time highs. Apple will report Q2 results on July 30, 2026.
Klarna’s shares also moved slightly higher.
Once expected to become a top global Fintech, Apple has in recent years scaled back its ambitions and is reportedly in the midst of shifting its Apple Card program away from Goldman Sachs and toward JPMorgan Chase.
Klarna completed an IPO last year and is in the midst of pursuing a US bank charter.