Macy's joins other Klarna investors including Snoop Dogg, H&M, BlackRock, Silver Lake, and Jack Ma's Ant Group. Macy's did not disclose the size of its investment.
Klarna works by allowing users to make purchases online at stores through its third-party mobile app. Klarna pays the merchant, and customers then repay Klarna in interest-free installments. The company makes money by charging fees to partner merchants and to customers for late payments.
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