Buy now, pay later (BNPL) firm Afterpay announced Thursday (Sept. 23) it has teamed up with eCommerce fashion platform Fashion Nova to give shoppers more options on how and when to pay for their purchases, according to a joint press release.
According to the release, Fashion Nova shoppers now have the option of paying in four interest-free installments using Afterpay.
Afterpay’s customer base grew to almost 20 million people in the past 12 months, and 90% of Afterpay orders this year were made by repeat customers, according to the release. Millennials and Generation Z make up the bulk of Afterpay’s customer base, with Gen Z being the platform’s fastest-growing demographic.
The tie-up with Fashion Nova represents an effort “to make fashion more accessible to these younger consumers,” the release stated.
“We’ve always prided ourselves on providing consumers easy and affordable access to the trendiest styles,” Richard Saghian, Fashion Nova’s CEO and founder, said in the release. “The partnership with Afterpay further enables our customers to buy their favorite looks in a way that is both seamless and convenient.”
Fashion Nova joins Afterpay’s network of almost 100,000 retailers around the world, according to the release.
“As we head into fall and the busy holiday season, it’s the perfect time to bring Fashion Nova onto the Afterpay platform as shoppers look to update their wardrobes,” The release stated Zahir Khoja (Afterpay General Manager of North America). “This partnership stems from our shared desires to cater to the very powerful Gen Z consumers, who prefer to spend their money responsibly and pay over time with Afterpay.”
PetSmart announced a partnership with Afterpay earlier this month. Customers will be able to shop online and in-store, while still receiving their products in the beginning. They also have more time to pay their bills, which are due in four installments every two weeks.
Read more: PetSmart Launches BNPL Program With Afterpay
The program applies to services such as grooming and training as well as products.
NEW PYMNTS DATA: TODAY’S SELF-SERVICE SHOPPING JOURNEY – SEPTEMBER 2021
About: Eighty percent of consumers are interested in using nontraditional checkout options like self-service, yet only 35 percent were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a PYMNTS and Toshiba collaboration, analyzes over 2,500 responses to learn how merchants can address availability and perception issues to meet demand for self-service kiosks.