Samsung Electronics has teamed up with Swedish payments firm Klarna to offer customers ‘buy now, pay later’ option on purchases made from website.

The partnership provides shoppers with three new payment options. It includes buy now and pay in 30 days; buy now and pay in three monthly payments; and spread the cost up to four years.

Klarna UK general manager Luke Griffiths said: “By offering our payment options online, is showing its ongoing commitment to enhancing the customer experience through cutting edge technology in its retail offering.

Whether buying a phone, TV or washing machine, Klarna will empower customers with greater flexibility over how, when and where they pay, to best meets their needs.

“We look forward to further developing this partnership and driving results for Samsung in a highly competitive market.”

The collaboration comes just a day after Samsung Electronics announced the launch of an NFC-enabled contactless payment acceptance solution on mobile devices. The solution, dubbed Samsung POS, was launched in partnership with Mobeewave.

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Initially, the Samsung POS has been deployed in Canada, with plans for a global roll-out in 2020.

On the other hand, Klarna secured $460m in an equity funding round in August this year. The funding round was led by Dragoneer Investment Group and took its post-money valuation to $5.5bn.