Companies make flexible spending available online at Old Navy, Gap, Banana Republic and Athleta
Afterpay (ASX:APT), the leader in “Buy Now, Pay Later” payments, announced today that it has partnered with Gap Inc. to bring flexible spending to Old Navy, Gap, Banana Republic, and Athleta shoppers just in time for the holidays. Now, consumers who shop these brands online will have the option to choose Afterpay at checkout to pay in four interest-free installments.
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The addition of Gap Inc. is part of a successful first quarter for Afterpay, during which the company’s active customers grew to 6.5 million in the U.S. market, averaging 15,000 new customers per day. The partnership is a response to customers actively requesting that Gap Inc. brands be added to the Afterpay’s Shop Directory, a request that’s being met with enthusiasm by both the Afterpay and Gap Inc. teams.
As a global retailer with a portfolio of lifestyle brands, Gap Inc. is the largest company to offer Afterpay’s buy now, pay later offering. Gap Inc.’s world-class ecommerce platform also enables customers to shop across Old Navy, Gap, Banana Republic, Athleta, as well as Gap Factory and Banana Republic Factory, and check out, all in a single transaction. The addition of Afterpay is part of Gap Inc.’s strategy to offer customers more freedom and flexibility when shopping online.
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“Collaborating with Afterpay gives our customers the power of choice when shopping across our family of brands,” said John Strain, Chief Digital and Technology Officer at Gap Inc. “By adding Afterpay to our other payment options, we’re able to provide a more customized shopping experience, give our customers additional convenience and control, and reach a younger demographic who may not have been able to shop with us before.”
“We are proud to partner with Gap Inc. to bring Afterpay to such a powerful set of brands and their customers,” said Melissa Davis, Afterpay’s Head of North America. “This partnership stems from our shared desire to enhance the digital shopping experience for the very valuable Millennial and Gen Z consumer who prefer to spend their own money and pay over time with Afterpay.”
Old Navy, Gap, Banana Republic, and Athleta join Afterpay’s growing merchant base in the U.S., which is now up to nearly 14k active merchants.
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