The buy now, pay later option for in-store shopping is gaining traction, with a host of U.S. retailers jumping on the flexible payment bandwagon to provide customers with more choices. Retailers including Forever 21, Finish Line, JD Sports, Levi’s, Skechers, Fresh, APL, Solstice Sunglasses and select DSW stores, are now offering shoppers an in-store buy, now pay later option via Afterpay.
In-store shoppers can use their Afterpay card, a virtual, contactless card stored in their digital wallet, which allows them to pay for purchases in four installments, without the need to take out a traditional loan or pay upfront fees or interest.
“Afterpay customers can now choose either physical or online shopping to buy holiday gifts — which brings new customers and drives more sales conversion to retailers without any additional set-up or integration costs,” said Nick Molnar, Co-founder and U.S. CEO of Afterpay in a statement.
Customers who shop both online and in-store spend 15%-20% more per transaction than online-only shoppers, and shop 66% more frequently, according to research from Afterpay.