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…

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