Afterpay Launches New Brands as Consumers Turn to BNPL to Reduce Summer Spending Stress
18 June 2024 - 11:00PM
Business Wire
Journeys, Rawlings Sporting Goods, and Helzberg
Diamonds among the latest merchants to offer Afterpay at
checkout
Afterpay, a leader in Buy Now, Pay Later (BNPL), announces a
batch of new brands that will be available for consumers to pay in
installments this summer. U.S. shoppers will be able to choose
Afterpay at checkout to shop from Curology, Helzberg Diamonds,
Journeys, Rawlings Sporting Goods, and Zenni Optical.
“We want to make shopping at Journeys, in store and online, as
easy and convenient as possible for our customers and expanding our
payment options is one of the ways we can do that. The addition of
Afterpay will provide the Journeys’ customer with a new and
flexible buy now pay later payment option,” said John Tighe, SVP
of Digital Commerce, Journeys.
As prices remain high in many consumer categories, Americans are
looking for more ways to budget and save for their summertime
activities. With the ability to spread purchases out in
installments, BNPL was rated by 4 in 51 users as an effective
solution to alleviating financial stress throughout the payment
journey.
“During a time when consumers are price sensitive, they need
reliable payment solutions that can help them get access to the
economy while stretching their money as far as they can. Afterpay
can do both as a money management tool that empowers
budget-conscious consumers to pay flexibly for the things they want
and need across a broad range of merchants,” said Heawon Kim,
Head of SMB and Mid Market Partnerships, Afterpay and Cash
App.
Afterpay has customer protections built-in to the platform to
prevent consumers from overextending themselves and revolving into
debt such as freezing accounts after one missed payment and capping
late fees. As a result, 98% of all Afterpay Pay in 4 purchases
incurred no late fees and 95% of installments were paid on
time.2
Download the Afterpay app on iOS and Android to get access to
all available merchants.
About Afterpay
Afterpay is transforming the way we pay by allowing customers to
buy products immediately and pay over time - enabling simple,
transparent and responsible spending. We are on a mission to power
an economy in which everyone wins. Afterpay is offered by thousands
of the world’s favorite retailers and used by millions of active
global customers. Afterpay is currently available in Australia,
Canada, New Zealand, the United States and the United Kingdom,
where it is known as Clearpay. Afterpay is a wholly owned
subsidiary of Block, Inc. (NYSE: SQ).
_______________ 1 Morning Consult’s Afterpay Financial Sentiment
Survey (May 2024) was conducted between April 26 - 30, 2024 among
2207 Adults aged 18-55 in the U.S. 2 Block, Inc. Q1’24 Results
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