News

Afterpay introduces Apple Pay for in-store payments

Wednesday 15 July 2020 10:35 CET | News

‘Buy Now, Pay Later’ company Afterpay has announced that its customers can use Apple Pay to make purchases through Afterpay in physical retail stores and online.

According to the press release, beginning in July 2020, select retail stores in the US will start offering Afterpay. Customers can initiate a purchase by simply tapping the ‘card’ icon in the Afterpay app, which activates the Afterpay card in the Apple Wallet. Similar to using Afterpay online, customers in the US will be able to pay securely for their in-store purchases in four instalment payments, without the need to take out a traditional loan or pay upfront fees or interest. Moreover, the service is completely free for consumers who pay on time.

Furthermore, Forever21, Fresh, Skechers, and Solstice Sunglasses are among some of the first stores to offer this solution this year. By using Apple Pay with existing payment terminals, there are no merchant integration costs associated with accepting Afterpay. Besides, customers in Australia will be able to use Apple Pay to make retail store purchases via the Afterpay app in the coming months.

Overall, with Afterpay, retailers will attract a growing segment of the population who prefer to pay without incurring traditional credit style debt, interest or fees. For this reason, retailers offering Afterpay see an average increase in conversion of approximately 22% – as well as increased basket size, higher customer satisfaction, and repeat customers.  

More than 89% of US customers who use Afterpay select debit cards to make purchases. Additionally, every Apple Pay purchase is secured, being authenticated with Face ID or Touch ID, or a device's passcode.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Afterpay, ‘Buy Now, Pay Later’, Apple Pay, retail, online payments, US, Afterpay card, Apple Wallet, instalment payments, Forever21, Fresh, Skechers, Solstice Sunglasses, merchant, Australia, debit cards, Face ID, Touch ID
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce