Afterpay (ASX: APT) the leader in “Buy Now, Pay Later,” today announced a partnership with Stripe, the technology company building economic infrastructure for the internet. The two companies are joining forces to offer Afterpay’s payment service to Stripe merchants through an easy and seamless integration.
The partnership allows both new and existing Stripe merchants to easily offer Afterpay – giving their shoppers the opportunity to receive their items immediately and pay in four installments, without the need to take out a traditional loan or pay upfront fees or interest. Businesses on Stripe can start accepting Afterpay in minutes—there’s no application, onboarding, or underwriting process to get started.
“Stripe is delighted to partner with Afterpay to make it easy and fast for online businesses to offer their customers Buy Now, Pay Later. We’ve seen strong demand from users around the world for flexible payment options, and this partnership gives businesses on Stripe an effective tool for capturing more sales and reaching new customers,” said Noah Pepper, Stripe’s Business Lead for APAC.
Afterpay and Stripe are also extending the payment service to top e-commerce platforms, with Squarespace—the all-in-one website building platform—being the first platform to leverage the partnership and offer Afterpay to its customers.
By offering Afterpay, Squarespace enables merchants to build a fully integrated checkout experience with ease, while maintaining the look and feel of their brand. Merchants will also experience the benefits of offering customers a flexible payment option, which is proven to attract new customers and deliver higher conversions and average order values.
“Afterpay has been a top requested feature from our customers,” said Paul Gubbay, Chief Product Officer at Squarespace. “Through this partnership, we’re glad to be able to offer our merchants even more flexibility in how they transact with their customers and increase topline sales without having to sacrifice the design elements that are unique to their brand.”
“Millennial and Gen Z consumers are demonstrating a clear preference for flexible payment options that allow them to budget and spend responsibly,” said Ben Pressley, Afterpay’s SVP of Global Sales Strategy and Operations. “By partnering with Stripe and Squarespace, we’re equipping retailers with the tools to meet this consumer demand – offering the younger generation a way to use their own money and pay over time, always free of interest.”
Stripe merchants in the US, UK, Australia and New Zealand can now integrate Afterpay, and will be available to merchants in Canada soon. Squarespace offers the combined integration of Stripe and Afterpay to their Commerce customers in the US, Australia and New Zealand, and will be available to Canadian customers soon.