Dive Brief:

• Buy now, pay later company Klarna Group has signed a deal with Fiserv-owned point-of-sale service provider Clover to offer installment loans at some U.S. merchants.
• The deal initially includes 100,000 merchant locations, Milwaukee-based Fiserv said in a news release Tuesday on its website, with a larger rollout scheduled for early 2026.
• The payment options available at those merchants as a part of the deal will include immediate debit payments and interest-free installment loans, the release said. The deal represents a push by the Swedish business Klarna to offer its payment products on a broader basis in the U.S., and at more store counters.

Dive Insight:

The release does not disclose when the deal was signed or when Klarna's installment loans will be available at checkout at businesses that use Clover. A Fiserv spokesperson did not immediately respond to a request for comment.

Fiserv, which is mainly known for its payments processing business, has focused on Clover as a key avenue for growth, including internationally.

The deal marks the latest move from Klarna to expand its installment loan footprint, including in the U.S. Last month, the company entered into an agreement with the delivery service DoorDash to let customers pay for meals with installment loans. 

Consumers can now use buy now, pay later to purchase goods and services as varied as luxury fashion items, groceries and concert tickets, given the BNPL industry’s expansion over the past five years. 

The release also does not say which companies, or what types, will offer Klarna's installment loans. Clover, which Fiserv acquired in 2019 when it bought First Data Corporation, largely caters to small businesses.