Afterpay, a digital platform that offers interest-free installment plans for online purchases, announced on Wednesday it is offering its services to consumers and merchants in the Canadian market through its new partnerships with various brands and retailers, including American Eagle, Ardene, BikeExchange, Dermalogica, FragranceX.com, Herschel Supply Co., Huda Beauty, GOLI, Maëlys Cosmetics, Native Shoes, Nixon, Perfume.com, and Roots.
Speaking about the Canadian expansion, Nick Molnar, Co-Founder and North American CEO of Afterpay, stated:
“As millions of consumers across the world turn to e-commerce to shop for everything they need in their life, the time has never been better to give Canadians the ability to use their own money and pay over time – instead of turning to expensive loans with interest, fees or revolving debt.”
Afterpay was founded in 2015 and reported its platform has grown to include more than 14,000 Australian retailers and brands including Sephora, Estee Lauder, Lululemon, Myer, The Daily Edited, and Stylerunner. Since launching in the U.S., Afterpay has processed more than 25% of all online fashion/beauty transactions. Since March, the company has increased its U.S. customer reach by 500,000, bringing the total number of U.S. shoppers who have used Afterpay to 1.5 million.
Afterpay revealed last month it had nearly 12 million app and U.S. site visits and Afterpay’s U.S. Shop Directory contributed nearly 9.5 million lead referrals to its retail partners.
