A new partnership with Klarna will see Macy’s offer their consumers more payment options.
Klarna is a Swedish bank that provides online financial services such as payments and post purchase payments. It intends to make it easier for people to shop online with their vision being to create a simple, safe and smooth payment process. The new five-year partnership will allow Macy’s customers the option to purchase their products now with payment made later in four equal, interest-free instalments.
Within the department store segment, Macy’s is one of the first companies to offer its customers Klarna’s buy now, pay later offering, which appeals to younger demographics who increasingly prefer alternative ways to pay but also to any consumer seeking flexibility and convenience. Amid ecommerce’s rapid acceleration, Macy’s has been fast-tracking digital initiatives and partnerships to quickly meet increased customer demand for online shopping and flexible payments options.
Matt Baer, Chief Digital Officer of Macy’s Inc., commented: “With a strong focus on digital agility and innovation, Macy’s continually seeks strategic partnerships that enable us to provide our customers with the best possible shopping experience. We’re excited to embark on a long-term relationship with Klarna that will help us reach wider audiences looking for seamless alternative payment solutions that provide them with financial control and convenience.”
