Afterpay (ASX:APT), the leader in “Buy Now, Pay Later” payments, and Simon, announced today a national collaboration to support retailers and promote Afterpay in-store payment services to consumers ahead of the busy holiday shopping season.
“Afterpay’s unique in-store payment solution allows our shoppers to make immediate purchases from our retail tenants, while paying over time, interest free – driving additional sales for our retailers,” said Mikael Thygesen, Chief Marketing Officer, Simon. “We believe the service is well-suited for these challenging economic times and a great option for our consumers and retail tenants alike.”
“With the busy holiday season upon us, we are proud to offer a truly multi-channel payment solution that has proven to bring new customers and increased sales to our retail partners,” said Melissa Davis, Afterpay’s EVP of North America. “Our new in-store solution is yet another way to support merchants by offering a powerful budgeting tool that allows shoppers to spend their own money over time – whether they prefer to buy in a physical store or online.”
At participating retailers, customers in the U.S. will be able to pay securely and simply for their in-store purchases in four installment payments, without the need to take out a traditional loan or pay upfront fees or interest.1 The service is completely free for consumers who pay on time and, because the payment is contactless, it is a safe and clean way to make a payment.
Customers can initiate a purchase in stores by simply tapping the card icon in the Afterpay app, which activates the Afterpay card in the wallet and can be used to make purchases with Apple Pay or Google Pay. Shoppers can then take their purchase home right away and pay over time, interest-free. Because Afterpay payments are made with the retailers’ existing payment terminals, there are no merchant integration costs associated with accepting Afterpay.
Today, more than five million U.S. customers use Afterpay at more than 15,000 top retailers in the two years since launching in the market.2
