H&M Invests in Frictionless Payments

Swedish clothing retailer H&M and fintech company Klarna have entered into a global partnership to further integrate H&M’s digital and physical stores to give customers a seamless, personalised shopping experience. With a less-than-1-percent stake in Klarna for $20 million, according to the Financial Times, Klarna’s single technological platform will power the H&M Club (all-digital loyalty program) payment process, provide an enhanced omni-channel customer payment offering, a streamlined post-purchase service in the H&M app and other services. Services will be available across 14 European countries in 2019.