Buy Now, Pay Later service provider Afterpay expands into Canada

By Pavithra R

Afterpay, a leading “Buy Now, Pay Later” (BNPL) service provider, has announced that the company is now offering its service to consumers and merchants in the Canadian market.

Afterpay for its Canada entry has partnered with some of the best fashion, beauty and lifestyle brands and retailers in the market including Ardene, BikeExchange, Dermalogica, FragranceX.com, American Eagle, Herschel Supply Co., GOLI, Maëlys Cosmetics, Native Shoes, Nixon, Perfume.com, Huda Beauty,and Roots among many others.

Afterpay enables merchants to give shoppers the ability to receive products immediately and pay in four installments over a short period of time. The service is available free for Canadian customers helping consumers spend money responsibly without incurring interest, fees, or revolving and extended debt.

“As millions of consumers across the world turn to e-commerce to shop for everything they need in their life, the time has never been better to give Canadians the ability to use their own money and pay over time – instead of turning to expensive loans with interest, fees or revolving debt. We are thrilled and honoured to partner with some of the best Canadian brands to bring our service to this important market, and help deliver new customers and increased sales to our partners,” said Nick Molnar, co-founder and North American CEO of Afterpay.

Recently, Afterpay introduced Google Pay and Apple Pay for in-store payments.

Founded in 2017, Afterpay has transformed the way people pay by allowing shoppers to receive products immediately and pay in four simple installments over a short period of time. The firm first introduced its in-store solution in Australia and New Zealand (ANZ) in 2016. According to company data, as of July of 2020, Afterpay had nearly 12 mn app, and U.S. site visits and its U.S. Shop Directory contributed nearly 9.5 mn lead referrals to its retail partners.