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After payment announced that its in-store, pay later (BNPL) purchase service is offered by major retailers across the country.
“Buyers can use Afterpay to purchase items at certain retail stores using their Afterpay card, a contactless virtual card stored in their digital wallet,” the company said on Tuesday (October 13). Press release. “Just like using Afterpay online, customers can pay for in-store purchases in four installments, without the need to take out a traditional loan or pay upfront fees or interest. Buyers can use the Afterpay they know and love, with the added bonus of taking their purchase home the same day.
Afterpay began offering in-store service in 2016 in Australia and New Zealand, the company said, and it was recently tested in the United States. Lists of Afterpay retailers that offer the service in the United States include Forever 21, Finish Line, JD Sports, Levi’s, Skechers, Fresh, APL, and Solstice Sunglasses. In addition, the company said, some DSW stores offer the service.
“Just in time for the holiday shopping season, we’re excited to deploy our in-store capabilities to all customers in the United States – making in-store payment more convenient, secure and contactless,” Nick Molnar, Co-Founder and Head Afterpay’s executive for North America, said in a prepared statement. “Afterpay customers can now choose between physical or online purchases to purchase holiday gifts, which attracts new customers and increases sales conversion at retailers without any additional setup or integration costs. “
Afterpay says its customers are reporting a 300% increase in average order value and a 200% increase in units per transaction among buyers who use the product.
During a panel discussion with PYMNTS on September 29, the topic of potential holiday shopping patterns was brought up. Molnar said, “We see Millennials and Gen Z customers absolutely buying, and brands that deeply understand them are growing at a faster rate than they’ve ever done before. And there is a huge opportunity. The exclusive product delivery ecosystem is on fire, the online marketplace and the frequency with which customers transact is definitely increasing. There are real opportunities for brands that deeply understand their consumer. “
Afterpay announced on October 6 that it had partnered with Simon Malls to promote the use of the card. As part of the arrangement, customers will not pay any fees in addition to the charges for the goods as long as the customer makes four scheduled payments on time.
Afterpay can also help Gen Z consumers who would otherwise feel pressured into shopping for luxury goods, Molnar says PYMNTS earlier this year.
