Macy's enters into 5-year partnership with Klarna

Macy's is offering its consumers more payment options through a new partnership with Klarna. The department store and alternative payment solutions provider have entered into a five-year agreement to allow Macy's shoppers the option to pay for their purchases in four equal, interest-free installments.

“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,” Matt Baer, chief digital officer ofMacy’s, Inc., said in a statement. “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.”

Klarna's service is available through Macy's online checkout. The buy-now-pay-later solution will help the retailer appeal to younger demographics, who have shown a preference to alternative payment solutions.