Afterpay (ASX:APT), the leader in Buy-Now, Pay-Later payments, announced today it is now offering its service to consumers and merchants in the Canadian market.
Afterpay enters Canada in partnership with some of the best fashion, beauty and lifestyle brands and retailers in the market including American Eagle, Ardene, BikeExchange, Dermalogica, FragranceX.com, Herschel Supply Co., Huda Beauty, GOLI, Maëlys Cosmetics, Native Shoes, Nixon, Perfume.com and Roots among many others. Over 55,000 brands and retailers are offering, or in the process of offering Afterpay to its more than 10 million customers across the world. The company assisted merchants in processing $11 billion in underlying sales in FY2020, a 112 percent increase over the same period in FY2019.
In July of 2020, Afterpay had nearly 12 million app and U.S. site visits and Afterpay’s U.S. Shop Directory contributed nearly 9.5 million lead referrals to its retail partners.
Afterpay allows merchants to give shoppers the ability to receive products immediately and pay in four installments over a short period of time. The service is completely free for Canadian customers – helping consumers spend money responsibly, without incurring interest, fees or revolving and extended debt. More than 90 percent of Afterpay purchases are made with debit cards.
“As millions of consumers across the world turn to e-commerce to shop for everything they need in their life, the time has never been better to give Canadians the ability to use their own money and pay over time – instead of turning to expensive loans with interest, fees or revolving debt,” says Nick Molnar, co-founder and North American CEO of Afterpay. “We are thrilled and honoured to partner with some of the best Canadian brands to bring our service to this important market, and help deliver new customers and increased sales to our partners.”
