Payments firm Klarna adds Lyst to its collection

Swedish payments firm Klarna has added online fashion start-up Lyst to its client list as it seeks to step up competition in a sector dominated by giants such as PayPal. Klarna, which processes 10 percent of European payments and launched last year on PayPal's home turf in the United States, already works with big e-commerce players including Wish, Overstock.com Inc, Shoes.com and ASOS. The addition of Lyst, which operates as an online mall and personal shopping service with access to hundreds o