“Can a legacy department store chain use co-branded financial products, embedded BNPL, and supplier financing to defend customer loyalty and supply chain resilience while executing an omnichannel transformation?”
Founded in 1858 as a New York City department store, Macy's grew into one of America's largest omnichannel retailers operating approximately 450 Macy's stores, ~60 Bloomingdale's locations, and 170+ Bluemercury beauty boutiques. The company, formerly known as Federated Department Stores, rebranded entirely under the Macy's banner. Its embedded finance story centers primarily on a long-standing co-branded credit card partnership with Citibank, N.A. and the adoption of BNPL (Klarna) and supplier financing (C2FO) to drive loyalty and supply chain health rather than building proprietary financial infrastructure.
Macy's discloses Citibank, N.A. as its sponsor bank, according to the Embedded Finance Index 2026.
Macy's does not disclose a bank charter of its own; its banking services are provided through Citibank, N.A..
Macy's's lending and capital products are provided by Citibank N.A. (co-brand card), C2FO (supplier early payment) and Momentus Capital (supplier lending program).
The Embedded Finance Index 2026 maps 2 layers in Macy's's stack: Lending (Citibank N.A. (co-brand card), C2FO (supplier early payment), Momentus Capital (supplier lending program), Co-branded credit card (Citibank N.A.) and 3 others); Sponsor bank (Citibank, N.A.).
Macy's is founded in 1858 and headquartered in 151 West 34th Street, New York, NY 10001.
Get a read on where your own stack stands against Macy's and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.