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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Afterpay Hits Milestone One Millionth Customer in the US

March 4, 2019

SAN FRANCISCO--(BUSINESS WIRE)--Mar 4, 2019--Just 10 months after launching in the US, Afterpay announced today that it has reached its one millionth US customer. The innovative digital platform offers interest-free installment plans for in-store and online purchases. Afterpay has already signed more than 2,800 leading retailers in the country and recently added Bandier, DSW, Forever 21, Morphe, Reformation, Sunglass Hut and True Religion, among many others, to its list of prestigious partners. The company also announced a global celebration of “Afterpay Day” on March 13 and 14, when its retail partners in the US and Australia will provide exclusive promotions and offers to customers.

“This is a huge moment for retail and savvy shoppers - we’re thrilled to reach the 1 million customer mark in the US,” said Nick Molnar, CEO and Co-Founder of Afterpay. “We only launched last May, so the customer uptake and demand for Afterpay demonstrates a generational shift in how millennials are spending when they shop. More than a million people in America have shown they welcome an opportunity to manage their budget and enjoy the products they love right away without having to deal with any high-interest debt.”

Afterpay enables shoppers to receive products immediately and pay for them in four installments, with no traditional loan, upfront fees or interest. Founded in Australia in 2015, the company was named one of Australia’s fastest-growing fintech companies by IDC. Afterpay currently processes more than 25% of all online fashion and beauty transactions in Australia. Since launching in the US in May 2018, Afterpay has partnered with hundreds of brands beloved by millennials, including Anthropologie, GOAT, Rebecca Minkoff, REVOLVE, Skechers, Steve Madden and Urban Outfitters.

Afterpay works with more than 25,300 retail partners across the globe and is adding new brands and retailers to its platform each month. The company is also expanding its scope with its current partners to develop influencer programs and collaborating with Forever 21 on an exclusive initiative for International Women’s Day.

About Afterpay

Afterpay is a technology-driven payments company based in Australia that facilitates commerce between retail merchants and their end customers by offering a “buy now, pay later” service that does not require end customers to enter into a traditional loan or pay any upfront fees or interest. Afterpay has developed an end-to-end digital platform and transaction integrity engine that performs real-time fraud and repayment capability assessments. Afterpay is currently integrated with many leading retailers in Australia, New Zealand and the US. For more information, visit www.afterpay.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190304005799/en/

CONTACT: Berns Communications Group

Stacy Berns / Michael McMullan

(212) 994-4660

sberns@bcg-pr.com/mmcmullan@bcg-pr.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: WOMEN DEPARTMENT STORES TECHNOLOGY LUXURY ONLINE RETAIL OTHER TECHNOLOGY HOME GOODS TEENS RETAIL COSMETICS FASHION SPECIALTY OTHER RETAIL CONSUMER MEN

SOURCE: Afterpay

Copyright Business Wire 2019.

PUB: 03/04/2019 12:46 PM/DISC: 03/04/2019 12:46 PM

http://www.businesswire.com/news/home/20190304005799/en