Macy’s is giving Klarna an unusually long five-year period of exclusivity and is taking a small stake in the Swedish group, joining other investors such as Hennes & Mauritz, Sequoia Capital, the Danish company behind online retailer Asos, and China’s Ant Group. The US department store chain has struggled to cope with the rise of online shopping and in particular the might of ecommerce giant Amazon. It 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.

https://www.ft.com/content/c2a26072-8c45-4ce3-9249-bd5b856bbe1c?sharetype=blocked