THE WHAT? Afterpay, the buy now, pay later service, has entered the Canadian market, with Huda Beauty and Dermalogica being amongst the brands to partner with the company.
THE DETAILS According to a press release, “Afterpay enters Canada in partnership with some of the best fashion, beauty and lifestyle brands and retailers in the market including American Eagle, Ardene, BikeExchange, Dermalogica, FragranceX.com, Herschel Supply Co., Huda Beauty, GOLI, Maëlys Cosmetics, Native Shoes, Nixon, Perfume.com and Roots among many others.”
The service, which allows merchants to give shoppers the ability to receive products immediately and pay in four installments over a short period of time, is free for Canadian customers.
THE WHY? Afterpay, which had nearly 12 million app and U.S. site visits in July, is said to allow consumers to spend responsibly without accruing interest, fees or revolving and extended debt.
Nick Molnar, co-founder and North American CEO of Afterpay, said, “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.
“We are thrilled and honoured to partner with some of the best Canadian brands to bring our service to this important market, and help deliver new customers and increased sales to our partners.”