Rite Aid and Afterpay Partner to Offer ‘Buy Now, Pay Later’ on Everyday Items
May 03 2022 - 9:00AM
Business Wire
Rite Aid becomes the first national drugstore
chain to offer Afterpay’s flexible payment solution to shop online
and pay later for household necessities from health and beauty to
baby care and grocery
Afterpay, the leader in "Buy Now, Pay Later" (BNPL) payments,
and trusted care retailer Rite Aid (NYSE: RAD) announced their
partnership today, offering Rite Aid’s online shoppers a new way to
pay for everyday items in four installments at no additional cost
when you pay on time. This partnership will help customers access
and spend responsibly on everyday goods with Afterpay’s powerful
budgeting tool.
“Our relationship with Rite Aid, and expansion into drugstore
e-commerce, comes at a time of increased shopper demand to pay over
time. Approximately 39%1 of consumers have indicated using BNPL
more due to the pandemic and inflation,” said Zahir Khoja,
General Manager of Global Platforms and Partnerships at
Afterpay. “By expanding our platform and services to new
everyday spend retailers, we can continue to help consumers unlock
access to daily necessities while managing their budgets.”
“As a trusted destination for the healthcare needs of our
communities, we are committed to providing our customers with
offerings that make it easier for them to obtain the products they
need to support their whole health,” said Justin Mennen, Chief
Digital and Technology Officer for Rite Aid. “Our new
partnership with Afterpay is another way we are leveraging
technology to improve the customer experience and the overall
health and wellness of our communities.”
Rite Aid will offer Afterpay on purchases made online at
www.RiteAid.com and plans to roll out its flexible payment option
in stores nationwide in the coming months. Customers can apply
Afterpay to any purchase made online with the exception of
prescription drugs or products that require a health provider
prescription. With nearly 70%2 of Afterpay’s highly-engaged network
of digitally-native Gen Z and Millennial customers, Rite Aid can
expect to see a new generation of consumers shopping online using
BNPL.
Over 19 million active customers use Afterpay at more than
122,000 of the world’s favorite retailers to purchase the things
they want and need without turning to expensive loans.⁴ To learn
more about the way Afterpay has transformed the way consumers shop
- both online and in-stores at the best brands around the world -
please visit newsroom.afterpay.com.
About Rite Aid Corporation
As the trusted, everyday care connector, Rite Aid drives lower
health care costs through better coordination, stronger engagement,
and personalized services that help you achieve whole health for
life. We provide an array of whole being health products and
services for the entire family through approximately 2,450 retail
pharmacy locations across 17 states. Through Elixir, we provide
pharmacy benefits and services to millions of members nationwide.
For more information, visit www.riteaid.com.
About Afterpay Limited
Afterpay is transforming the way we pay by allowing customers to
buy products immediately and pay for their purchases over four
installments.3 The service is completely free3 for customers who
pay on time - helping people spend responsibly. As of December 31,
2021, Afterpay is offered by more than 122,000 of the world’s
favorite retailers and more than 19 million active customers have
adopted the service.4
Afterpay is currently available in Australia, Canada, New
Zealand, the United States and the United Kingdom, France, Italy
and Spain, where it is known as Clearpay. Afterpay is on a mission
to power an economy in which everyone wins. Afterpay is a wholly
owned subsidiary of Block, Inc. (NYSE: SQ).
____________
1 Source: Coresight x Afterpay, The Inflation Pressure Cooker:
How North American Consumers Are Responding, April 2022 2 Source:
Accenture x Afterpay, Next Gen Index, Feb 2022 3 Late fees may
apply. Eligibility criteria apply. See afterpay.com for full terms.
4 Figures released in Block Q4 2021 results
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version on businesswire.com: https://www.businesswire.com/news/home/20220503005184/en/
Daphne Duong dduong@squareup.com
Terri Hickey terri.hickey@riteaid.com
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