Afterpay introduced cross-border trading for its Canadian merchant partners, allowing them to offer their products to buyers in the US using its popular Buy Now, Pay Later payment solution.
With Australia, New Zealand, and the UK already shopping from Afterpay’s Canadian merchants, this addition will mean they can now reach over 16 million US shoppers.
“With this expanded cross border offering, we’re delivering Afterpay’s largest customer base of US shoppers to our Canadian merchant partners, which will undoubtedly lead to an increase in sales. I’m thrilled that merchants in Canada will now have an added opportunity to grow their business just in time for the busy holiday season.”Ryann Caruthers, General Manager of Afterpay Canada
Cross-border shopping has already proven to be an important part of the Afterpay offering for Canadian consumers since it was first introduced in November 2020.
Once logged into Afterpay, shoppers see the total basket amount in their local currency during checkout and will be charged this amount. They also benefit from the flexibility and convenience of paying in four installments over time, without incurring interest or currency conversion fees when paid on time.
And it is now possible for shoppers to offset the carbon footprint of their purchase through a new program Afterpay launched last week. Another forward-thinking option the company offers by reimagining payments.
Over the last year, Canadian consumers have purchased from more than 3,000 US merchants, and approximately 10% of all Canadian orders are to cross-border merchants.
On the merchant side, Afterpay’s cross-border capabilities allow brands to open their online storefronts to shoppers without paying set-up or currency conversion fees.
Afterpay says it is transforming the way consumers pay by allowing customers to buy products immediately and pay for their purchases over four installments, interest-free. The service is completely free for customers who pay on time, helping people spend responsibly without incurring interest.
The company’s Buy Now, Pay Later solution is being offered by nearly 100,000 merchants globally with 20 million consumers signed up in North America.
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