Retailers adding buy now, pay later purchasing options

Gap, Macy's and Neiman Marcus are among the retailers offering customers the option of paying for purchases over time. Retailer offering the option believe that doing so will help attract new, often younger, shoppers. Macy's CEO Jeff Gennette said that 40 percent of customers choosing the option are new to the chain. The retailer is hoping that it will be able to move these shoppers to its store brand credit card over time.