PetSmart has launched a partnership with the buy now, pay later (BNPL) company Afterpay, designed to give customers the chance to pay for purchases in interest-free installments.
The company announced the partnership on Tuesday (Sept. 14), saying it would allow customers to make purchases online and in-store, still receiving their products upfront but getting more time to make the payments, which are due in four installments, every two weeks. The program applies to services such as grooming and training, as well as products.
“As the largest omnichannel specialty pet retailer, PetSmart is the first company of its kind to offer Afterpay’s buy now, pay later service,” the company said in a news release. “Having recently added offerings like curbside pickup and same-day delivery, the addition of Afterpay is part of PetSmart’s strategy to give customers more freedom and flexibility when shopping for their pets and ease the stress that comes with becoming a new pet owner.”
According to the pet retailer, Afterpay has a “powerful demographic of young and engaged shoppers” who make up the largest share of pet owners in America. In addition, pet-related searches on Afterpay’s platform have risen nearly 270% in the last year.
“Afterpay empowers our customers with the financial freedom and flexibility to make purchases at PetSmart quickly and easily – and on their terms,” said Will Smith, senior vice president and chief marketing officer. “We’re excited to provide this innovative program to our customers, whether they’re shopping in-store or online.”
In other BNPL news, Capital One plans to test out a new installment payment product in an effort to gain a greater share of the computer loan market, Reuters reported.
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Read more: Capital One Eyes Testing BNPL Waters With POS Offering
The company’s test product will come with POS loans for a limited set of Capital One’s existing merchants, according to CEO Richard Fairbank. The company will assess the test results to gauge how well the products perform.
