Afterpay’ing Grows to Become Canada’s Preferred Way to Pay
Top Canadian Merchants Offer Afterpay Just In Time For Holiday Shopping
Boohoo, Pretty Little Thing, West Coast Kids and more partner with Afterpay, as more Canadian shoppers prefer the BNPL leader.
Afterpay, the leader in “Buy Now, Pay Later” payments, today announced that it has partnered with several new top fashions, apparel and beauty retailers in Canada, including Boohoo, Pretty Little Thing, Running Room, Mondetta, West Coast Kids and HBX, HYPEBEAST’s retail arm - offering shoppers a more flexible and convenient way to pay for all of their holiday must-haves. Just over a year since launching in the region, Afterpay has grown to become the preferred way to pay by Millennial and Gen Z shoppers. Top Canadian shoppers use the platform 30x per year, and 54% of customers say they will not complete a purchase if Afterpay isn’t offered or will find another retailer that does offer 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.
Ash Modha, Founder and CEO of Mondetta said: "We chose to partner with Afterpay because of their commitment to helping consumers spend in a way that's convenient, safe and easy. The fact that Afterpay does not engage in external credit checks or allow customers to fall into debt is perfectly in line with our values as a BCorp Certified business. By offering Afterpay, we've been able to reach high-value customers, which has resulted in substantial benefits, including a 20x increase in our standard website referral rate and a 44% uptick in average order values."
Ryann Carruthers, General Manager of Afterpay Canada said: “As we prepare for the holiday shopping season, we’re thrilled to partner with such an exciting assortment of new brands and provide our Canadian customers with even more places to shop responsibly and pay over time, using their own money. Merchants partnering with Afterpay will attract highly engaged, loyal young customers, which in turn, leads to an increase in traffic and a boost in sales. ”
The new merchants will join Afterpay’s already wide network of 100,000 global retailers, which allow customers to receive items immediately and pay over time, with no fees. Merchants benefit from Afterpay’s customer base of nearly 20 million in North America, and during 2021, Afterpay referred approximately 1 million customers per day to its merchant partners via its Shop 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 over four instalments, always interest-free. The service is completely free for customers who pay on time - helping people spend responsibly without incurring interest or extended debt. As of June 30, 2021, Afterpay is offered by nearly 100,000 of the world's favourite retailers and nearly 20 million customers have signed up in North America alone.