Flexible payments service provider Afterpay has partnered with payment processor Adyen to offer Afterpay’s leading “Buy Now, Pay Later” (BNPL) service to retailers on the Adyen payments platform.
Check Out These Resources
- Do you need a business bank account for your online business? Take a look at our review of the five best bank accounts for sellers, some of which are free with no minimum balance or deposits. [sponsored]
- Boost your social media engagement with Publer. Learn how you can save time writing engaging content faster with AI. [sponsored]
- Could your online business use capital for growth? Here is a primer on revenue-based loans, and how they work.
With Afterpay, retailers attract a growing segment of the population who prefer to pay without incurring traditional credit-style debt, interest, or fees. The service is especially popular with younger shoppers, with Millennials and Gen Z representing the majority of Afterpay customers.
The service is completely free for consumers who pay on time, and the company now has more than 13 million customers globally.
For this reason, many retailers offering Afterpay see an average increase in conversion of approximately 22% – as well as increased basket size, higher customer satisfaction, and repeat customers. Around 90% of Afterpay transactions are made with debit cards.
“BNPL has changed the retail industry – as young shoppers prefer to use their own money to buy items they need and want – instead of using credit cards which often lead to revolving debt with interest and fees.”Ben Pressley, SVP of Global Sales Strategy and Operations at Afterpay
Merchants of Adyen can offer Afterpay in the UK, the United States, Canada, Australia and New Zealand to their customers. In the UK, Afterpay is known as Clearpay.
Subscribe to Our Newsletter
We do not sell your information.
You can unsubscribe at any time.
Head over to our Facebook Group for Small Business Marketplace Sellers and interact with us and other small business owners. Follow us on Facebook, Twitter, or LinkedIn to stay up to date with relevant news and business insights for your online business.