SAN FRANCISCO, Oct. 6, 2020 /PRNewswire/
-- Afterpay (ASX:APT), the leader in "Buy Now, Pay Later"
payments, and Simon, announced today a national collaboration
to support retailers and promote Afterpay in-store payment services
to consumers ahead of the busy holiday shopping season.
"Afterpay's unique in-store payment solution allows our shoppers
to make immediate purchases from our retail tenants, while
paying over time, interest free - driving additional sales for our
retailers," said Mikael Thygesen,
Chief Marketing Officer, Simon. "We believe the service is
well-suited for these challenging economic times and a great option
for our consumers and retail tenants alike."
"With the busy holiday season upon us, we are proud to offer a
truly multi-channel payment solution that has proven to bring new
customers and increased sales to our retail partners," said
Melissa Davis, Afterpay's EVP of
North America. "Our new in-store
solution is yet another way to support merchants by offering a
powerful budgeting tool that allows shoppers to spend their own
money over time - whether they prefer to buy in a physical store or
online."
At participating retailers, customers in the U.S. will be able
to pay securely and simply for their in-store purchases in four
installment payments, without the need to take out a traditional
loan or pay upfront fees or interest.1 The service is
completely free for consumers who pay on time and, because the
payment is contactless, it is a safe and clean way to make a
payment.
Customers can initiate a purchase in stores by simply tapping
the card icon in the Afterpay app, which activates the Afterpay
card in the wallet and can be used to make purchases with Apple Pay
or Google Pay. Shoppers can then take their purchase home
right away and pay over time, interest-free. Because Afterpay
payments are made with the retailers' existing payment terminals,
there are no merchant integration costs associated with accepting
Afterpay.
Today, more than five million U.S. customers use Afterpay at
more than 15,000 top retailers in the two years since launching in
the market.2
About Afterpay Limited
Afterpay Limited (ASX: APT) is
transforming the way we pay by allowing customers to receive
products immediately and pay for their purchases over four
installments, always interest-free. The service is completely free
for customers who pay on time - helping people spend
responsibly without incurring interest, fees or extended debt. As
at June 30, 2020, Afterpay is offered
by more than 55,400 of the world's favorite retailers and is used
by more than 9.9 million active customers globally.
Afterpay is currently available in Australia, Canada, New
Zealand, the United States
and the United Kingdom, where it
is known as Clearpay. Afterpay is on a mission to power an
economy in which everyone wins.
About Simon
Simon is a real estate
investment trust engaged in the ownership of premier shopping,
dining, entertainment and mixed-use destinations and an S&P 100
company (Simon Property Group, NYSE: SPG). Our properties across
North America, Europe and Asia provide community gathering places for
millions of people every day and generate billions in annual
sales.
1 Eligibility criteria apply. Late fees may
apply. See afterpay.com for full terms.
2 According to FY20 business results.
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SOURCE Afterpay