Payment technology provider Klarna will power fashion retailer H&M's new loyalty scheme in a deal that involves the latter investing $20m.
Fashion retailer H&M is investing Skr185m ($20m) in Sweden-based payment technology provider Klarna as part of a partnership agreement, the Financial Times has reported.
Formerly known as Kreditor, Klarna works with a client base of about 90,000 online retailers to give customers the chance to pay for items through instalments, triggering the option at the checkout.
The company’s technology will partner a H&M loyalty scheme called H&M Club, which will give customers points for both online and in-store purchases, and…
