Nick Molnar, Afterpay’s co-founder and US CEO, said, “We are thrilled to partner with Ulta Beauty and J.Crew, to enable them to offer buy now pay later services to their customers. We have seen great success in the U.S. market, supported by the best American retail partners, and we look forward to continuing this momentum with retailers and consumers alike as we head into the Fall.”
Afterpay
PR Newswire
Aug 26, 2019, 08:01 ET
Company signs with over 6,500 U.S. retailers representing more than 10% of the U.S. fashion and beauty industry online
SAN FRANCISCO, Aug. 26, 2019 /PRNewswire/ — Afterpay, the leader in “Buy Now, Pay Later”, announced today that it has partnered with Ulta Beauty and J.Crew. Launching between Fall 2019 and early 2020, these powerhouse brands join the more than 6,500 active and onboarding U.S. retailers – representing more than 10% of the U.S. fashion and beauty retailer online1.
This comes on the heels of a highly successful month of July, during which Afterpay achieved a sales volume run rate2 of over US $1.2 billion from two million+ active U.S. customers. (Active customers are defined as those that have made a purchase from a retail partner using the Afterpay product in the last 12 months).
Nick Molnar, Afterpay’s co-founder and US CEO, said, “We are thrilled to partner with Ulta Beauty and J.Crew, to enable them to offer buy now pay later services to their customers. We have seen great success in the U.S. market, supported by the best American retail partners, and we look forward to continuing this momentum with retailers and consumers alike as we head into the Fall.”
Afterpay allows retailers to offer shoppers the option to receive products immediately and pay for them in four installments, without taking out a traditional loan or paying upfront fees or interest. The service is completely free for customers who pay on time – helping consumers spend money for discrete purchases responsibly, without the ability to extend repayment obligations or the risk of falling into a debt trap.
