Macy’s is to take a stake in Swedish buy-now pay-later group Klarna as part of a partnership under which the US department store chain will offer its customers the possibility to split up online purchases into four interest-free payments. The US department store chain has struggled to cope with the rise of online shopping and is hoping for a boost from its partnership with Klarna, which is popular with younger shoppers because it allows them to receive goods and return them before paying for them.

Macy’s and Klarna announce new five-year partnership to provide more payment options