AFTERPAY REACHES 1 MILLION U.S. CUSTOMERS

Just 10 months after launching in the States, Afterpay has announced that it has reached its one millionth U.S. customer.

For those who may not know, 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 percent of all online fashion and beauty transactions in Australia. Since launching in the U.S. 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 also announced a global celebration of “Afterpay Day” on March 13 and 14, when its retail partners in the U.S. 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 U.S.,” said Nick Molnar, co-founder and CEO 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.”