- Robyn Turk
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Afterpay continues to expand. The alternative payment solutions
provider now represents more than 10 percent of the American fashion
and beauty industries online, with over 6,500 U.S. retail
partners.
The technology-driven payments company has announced two new
partnerships with Ulta Beauty and J.Crew. Afterpay’s service will roll
out for these new partners between fall 2019 and early 2020.
“We are thrilled to partner with Ulta Beauty and J.Crew, to enable
them to offer buy now pay later services to their customers,” said
Afterpay’s co-founder and U.S. CEO Nick Molnar. “We have seen great
success in the U.S. market, supported by the best American retail
partners, and we look forward to continuing this momentum with
retailers and consumers alike as we head into the Fall.”
Afterpay has become a leader in “Buy Now, Pay Later” services, as
its technology allows its retail partners to offer payment plans to
its customers. The platform enables shoppers to receive products
immediately and then pay for them in four installments, without
upfront fees or interest. Its service is completely free for customers
who pay on time.
The news comes on the heels of much success on Afterpay’s part
through the month of July. Afterpay achieved a sales volume run rate
of over 1.2 billion dollars from over two million active U.S.
customers, according to a company statement.
