Afterpay has entered into a partnership with Google Pay to expand its flagship ‘Buy Now, Pay Later’ (BNPL) service.
The move will enable Afterpay customers paying with Google Pay avail BNPL service for purchases made at US physical retail stores.
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To avail the service, the customers using the Afterpay app by tapping their Android phone at the POS terminal.
Subsequently, the customers can repay the amount in four instalments. The service will not charge any interest on timely payments.
Afterpay co-founder and US CEO Nick Molnar said: “As shoppers return to main street, we are more committed than ever to support their business needs.
“Afterpay and Google Pay give shoppers the ability to choose either physical or online shopping while still being able to budget their own money and avoid expensive loans, interest and fees – which has shown to attract new customers and drive more sales conversion for our retail partners.”
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By GlobalDataRetailers such as Forever21, Fresh and Solstice Sunglasses are scheduled to rollout Afterpay at their stores from this month.
The BNPL service is said to increase sales as it allows customers to shop without incurring debt or interest.
According to the company, retailers offering Afterpay record an average increased conversion of around 22%.
Currently, Afterpay is available in Australia, New Zealand, the US and the UK. In May, Tencent acquired a 5% stake in this Australian firm.
