Top Canadian Merchants Offer Just In Time Afterpay For Holiday Shopping
TORONTO and SAN FRANCISCO, November 4, 2021 / CNW / – After payment (ASX: APT), the leader in “Buy Now, Pay Later” payments, today announced that it has partnered with several new fashion, clothing and beauty retailers in Canada, including Boohoo, Pretty Little Thing, Running Room, Mondetta, West Coast Kids and HBX, the retail arm of HYPEBEAST – giving shoppers a more flexible and convenient way to pay for all their vacation essentials.
Just over a year after launching in the region, Afterpay has become the preferred payment method for Millennials and Gen Z shoppers. Top Canadian shoppers use the platform 30 times a year, and 54 % of customers say they won’t complete a purchase if Afterpay isn’t available or they’ll find another retailer that offers the service. This loyalty also means that customers start their shopping journey with Afterpay, and 70% of customers have discovered a new brand through the platform.1.
Ash Modha, Founder and CEO of Mondetta said, “We chose to partner with Afterpay because of their commitment to helping consumers spend conveniently, securely and easily. The fact that Afterpay does not perform external credit checks or allow customers to get into debt is fully in line with our values as a BCorp certified company. By offering Afterpay, we were able to reach high value customers, which translated into substantial benefits, including a 20-fold increase in our standard website referral rate and a 44% increase in average customer values. orders .”
Ryann carruthers, Managing Director of Afterpay Canada said, “As we prepare for the holiday shopping season, we are thrilled to partner with such an exciting assortment of new brands and provide our Canadian customers with even more places to responsibly shop and pay. over time, using their own money. Merchant partners with Afterpay will attract loyal and highly engaged young customers, which in turn will lead to increased traffic and increased sales. ”
The new merchants will join Afterpay’s already extensive network of 100,000 global retailers, which allows customers to receive items immediately and pay over time at no cost. Merchants benefit from Afterpay’s customer base of nearly 20 million in North America, and in 2021, Afterpay referred approximately 1 million customers per day to its merchant partners via its store directory2.
About Afterpay Limited
Afterpay Limited (ASX: APT) is transforming the way we pay by allowing customers to buy products immediately and pay for their purchases in four installments, always without interest. The service is completely free for customers who pay on time, which helps people spend responsibly without incurring interest or taking on more debt. From June 30, 2021, Afterpay is offered by nearly 100,000 of the world’s favorite retailers and nearly 20 million customers have signed up for North America alone.
Afterpay is currently available in Australia, Canada, New Zealand, United States and the UK, France, Italy and Spain, where it is known as Clearpay. Afterpay’s mission is to propel an economy in which everyone wins.
1 The deadline for the data is the last three months
2 Figures published in the 2021 results
For more information: Samantha Bonizzi, [email protected], https://www.afterpay.com/