Retail

Afterpay Reports 6.5K Merchants On Payments Platform

Afterpay, the leader in “buy now, pay later” payments, said in a press release that its second bi-annual two-day sale, Afterpay Day, will take place Aug. 14-15.

The company will partner with top fashion and beauty brands and retailers for the event, which offers its two million U.S. customers access to special promotions. Discounts will be offered across retailers such as NARS Cosmetics, Schutz, APL, Steve Madden and more.

The Australian FinTech firm launched in the U.S. market just over a year ago and is now signed with over 6,500 U.S. retailers, which represent more than 10 percent of the U.S. fashion and beauty industry. The first Afterpay Day sale in March 2019 had the participation of over 400 U.S. retail partners.

“After building tremendous momentum in the U.S. over the last year, we are thrilled to offer our second annual Afterpay Day sale to our now two million customers,” said Nick Molnar, co-founder of Afterpay​. “Customers can shop a record amount of amazing deals from the most loved fashion and beauty brands. Afterpay is a marketing channel to the world’s most valuable customers, the millennial and Gen-Z cohort.”

Afterpay allows shoppers to receive products immediately and pay for them in four installments, without taking out a traditional loan or paying upfront fees or interest. The service is completely free for customers who pay on time.

The company is currently working with leading fashion and beauty online retailers such as Anastasia Beverly Hills, Anthropologie, DSW, Estee Lauder Group, Forever 21, Levi’s, MAC Cosmetics, Steve Madden and Urban Outfitters, among ​many others.

Afterpay notched $221.08 million (A$317 million) in new capital via a share placement last month, which involved Hancock and both co-founders selling a total of 4.5 million shares at A$23 apiece for the equivalent of A$103 million.

——————————

PYMNTS LIVE ROUNDTABLE: TUESDAY, JULY 14, 2020 AT 12:00 PM (ET)

Digital transformation has been forcefully accelerated, but how does that agility translate into the fight against COVID-era attacks and sophisticated identity threats? As millions embrace online everything, preserving digital trust now falls mostly on banks and FIs. Now, advances in identity data and using different weights on the payment mix afford new opportunities to arm organizations and their customers against cyberthreats. From the latest in machine learning for fraud and risk, to corporate treasury teams working in new ways with new datasets, learn from experts how digital identity, together with advances like real-time payments, combine to engender trust and enrich relationships.

TRENDING RIGHT NOW