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

NEW YORK, Oct. 6, 2020 /PRNewswire/ -- Klarna, the leading global payments and shopping service, today announced that it has partnered with Macy's, America's most iconic department store, to offer customers the ability to elect to pay in four equal, interest-free installments at online checkout as part of an enhanced shopping experience.

"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," said Matt Baer, chief digital officer, Macy's, Inc. "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."

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.

"Macy's is the shopping destination for American consumers, synonymous with quality, style, and celebration," said Sebastian Siemiatkowski, CEO of Klarna. "Klarna is delighted to partner with Macy's as the shift to online retail accelerates and the company continues to innovate and enhance its digital offerings to meet evolving consumer expectations, for which smart and flexible payments are essential. This strategic collaboration is firmly rooted in a shared obsession with offering a superior innovative shopping experience that builds lasting connections with consumers."

Klarna is the pioneer and global leader of buy now, pay later options. With more than 200,000 retail partners globally and a US consumer network of 9 million shoppers, Klarna offers consumers convenience, flexibility and control. The Klarna app, which enables customers to shop at any online store, offers a best-in-class experience sees more than 12 million monthly active users globally.

In addition to integrating the Klarna Pay in 4 option on macys.com, Macy's Inc. becomes an investor in Klarna.

About Klarna

We make shopping smooth. With Klarna, consumers can buy now and pay later, so they can get what they need today. Klarna's offering to consumers and retailers includes payments, social shopping and personal finances. Over 200,000 retail partners including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress, have enabled Klarna's innovative shopping experience online and in-store. Klarna is ranked number five on the 2020 CNBC Disruptor 50 list, is one of the most highly valued fintech in Europe, with a valuation of $10.6 billion, and is one of the largest private fintechs globally. Klarna was founded in 2005, has over 3,000 employees and is active in 17 countries. For more information, visit klarna.com.

About Macy's

Macy's is America's Department Store. For more than 160 years, Macy's has served generations at every stage of their lives. Macy's customers come to us for fashion, value and high-quality products. We are proud of our heritage and the unique role we play in American culture and tradition. We celebrate occasions big and small, and have created decades of memorable experiences through Macy's 4th of July Fireworks(®) and Macy's Thanksgiving Day Parade(®), as well as spectacular fashion shows, culinary events, flower shows, and celebrity appearances. With the collective support of our customers and colleagues, Macy's helps make a difference in every market we serve, supporting local and national charities through funding and volunteer service. With fashion, value and celebration as our guide, Macy's makes life shine brighter for our customers, colleagues, and communities.

Klarna Media Relations:

press.us@klarna.com
Berns Communications Group
Michael McMullan
212-994-4660
mmcmullan@bcg-pr.com

Macy's Media Relations:

Julie Strider
Julie.Strider@macys.com

Macy's Investor Relations:

Mike McGuire
investors@macys.com

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SOURCE Klarna Bank AB