The largest US department store operator embraces "buy now, pay later"
In Brief:
- The investment includes a five-year partnership where Macy’s customers can make payments in four equal, interest-free installments at the online checkout.
- Klarna has a similar deal with H&M, the world’s second-biggest fashion retailer.
- Other investors in Klarna include rapper Snoop Dogg and BlackRock.
What does this mean
With retail in turmoil companies are looking to FinTech innovation to boost sales - Klarna alone recorded 550% growth in the U.S. market in the first half of this year.
