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Afterpay now available in-store with Cue and Veronika Maine first to go live

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27 Jan

Afterpay now available in-store with Cue and Veronika Maine first to go live

launch-admin Jan 27, 2017 0 456
In-store layby alternative for retailers allows shoppers to enjoy purchases immediately

Sydney, Australia, 9 August 2016 – Afterpay, leading Australian retail payments innovator, today announced fashion brands Cue and Veronika Maine as the first to go live in-store with the Afterpay payment solution. In addition to its online offer, customers can now shop at Cue and Veronika Maine physical stores, check out with Afterpay and take items home on the same day.

The Afterpay in-store process starts in just a few taps on a smartphone – customers choose how much they wish to spend, provide their payment details and receive an approval code to present at the register. Afterpay allows customers to buy in-store instantly, putting down a quarter of the cost and paying over four equal fortnightly instalments, helping to manage their monthly budget.

Nick Molnar, Managing Director at Afterpay, said, “We are thrilled to have such iconic and well-respected brands, Cue and Veronika Maine, on board with Afterpay, offering their customers our payment service in-store, as well as online. We see Afterpay as a model that will only continue to strengthen and this partnership signals our next major phase of growth.”

Retail is progressively becoming ‘phygital’ and retailers recognise the importance of providing the combination of physical and digital touchpoints to customers. As a customer-centric business, Afterpay offers customers the benefits of a layby service with an immediate take-home option, taking the sting out of shopping, while merchants gain incremental sales, boost conversions and reduce returns.

“The focus and future of bricks and mortar stores lies in enhanced offerings, which rely heavily on technology. Sophisticated digital and interactive experiences will become more commonplace and Afterpay is steering in this direction with our in-store solution,” added Molnar.

Shane Lenton, Chief Information Officer at Cue Clothing Co, said, “Since launching with Afterpay in December 2015, our online sales across the Cue, Veronika Maine and Dion Lee brands have increased significantly, resulting in an amazing uptake with 25-30% of our payments going via Afterpay.”

“A culture of innovation is at the heart of everything that we do at Cue, including our e-commerce experience and the foundation for how we interact with our customers and the solutions we offer. Having seen what Afterpay has done for us online, we are excited to launch the platform in-store and offer our customers more choice, flexibility and benefits,” added Lenton.

Afterpay is a ‘win-win system’ for customers and merchants, offering customers more options and keeping data secure, while merchants are safeguarded against fraud and non-payment risk. Afterpay complies with the highest level of Payment Card Industry compliance (PCI DSS Level 1 Compliant). Furthermore, significant repeat business can be attributed to Afterpay’s ‘customer-first’ philosophy.

About Afterpay
Founded in 2014, Afterpay is a leading Australian retail payments innovator that facilitates commerce between retail merchants and their end-customers. Afterpay offers a ‘buy now, pay later’ service that does not require end-customers to enter into a traditional loan or pay any upfront fees or interest. Afterpay currently has over 100,000 customers and over 300 retail merchants and in 2016, listed on the Australian Securities Exchange. For more information, visit www.afterpay.com.au.