Macy's Investing in Swedish Installment Payments Company Klarna
Macy's (NYSE: M) is getting into the next-gen retail-financing game. The company has agreed to invest in privately held fintech company Klarna, a Sweden-based business that specializes in providing installment financing. In addition to the investment, according to the announcement Klarna released on Tuesday, Macy's will team up with Klarna in a five-year partnership.
The tie-up will see Klarna provide its technology for online sales, meaning that Macy's customers will have the option to pay for certain items in four equal, interest-free installments when they check out.
Klarna did not spell out any of the financial details of either the Macy's investment or the partnership between the two companies.
Source Fool.com
