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MEDIA RELEASE: Afterpay branches out into department stores with Myer deal

launchgroup.com.au > Blog > News > MEDIA RELEASE: Afterpay branches out into department stores with Myer deal
13 Jul

MEDIA RELEASE: Afterpay branches out into department stores with Myer deal

launch-admin Jul 13, 2017 0 1430
Australia’s largest department store to offer ‘buy now, receive now, pay later’ option online

Sydney, Australia, 15 March 2017 – Innovative retail payments platform, Afterpay, today announced a significant new partnership with Myer, Australia’s largest department store. Customers will have the option to ‘buy now, receive now, pay later’ through Afterpay at Myer online from May this year. The partnership, initially to be over a two-year period, broadens the Afterpay offering into new retail product verticals and further expands its online retail market reach.

Afterpay’s customer base has also catapulted to over half a million users since revealing its half year results mid-February. Afterpay Managing Director Nick Molnar said the way people in Australia shop is changing – they want options and to be in control of the shopping and purchasing process. Tech innovations such as Afterpay allows customers to choose the way they want to pay.

“We feel privileged to work with Myer, one of Australia’s most iconic retail brands, and are excited to introduce Myer’s online customers to the benefits of Afterpay. The partnership with Myer will give customers even greater choice over their Afterpay purchases. Afterpay’s retail value proposition is resonating strongly with Australian retailers and consumers, now with over 500,000 active customers and over 3,100 retailers.”

Heavily focused on expanding to broader retail categories and consumer demographics is the way forward for Afterpay. The substantial increase in customers embracing the ‘buy now, receive now, pay later’ payment option reinforces this vision. Adoption of Afterpay is largely millennials who are great spenders while also being price conscious and savvy. However, the more meaningful spenders – Generation X and Baby Boomers – are increasingly embracing the service. They know they have options and like to be in control of the shopping and buying process.

Afterpay maintains a very strong pipeline of Australia’s leading brands – integrations are proceeding with retailers. Afterpay has successfully partnered with retailers and recent additions that have gone live on the platform include: Telstra, Booktopia, 2XU, Running Bare, Tarocash and Alannah Hill.

If you are interested in speaking with Nick Molnar, Managing Director at Afterpay, please contact Christine Kardashian on 0416 005 703 or via email at christine@launchgroup.com.au.

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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, receive now, pay later’ service that is absolutely in the customer interest, not requiring end-customers to enter into a traditional loan or pay any upfront fees or interest. Afterpay currently has over 500,000 customers and over 3,100 retail merchants and in 2016, listed on the Australian Securities Exchange. For more information, visit www.afterpay.com.au.

Media Contact
Christine Kardashian
Launch Group
02 9492 1000 | 0416 005 703

Christine Kardashian, Group Account Director

Launch Management Group Pty Ltd
FSA #100, Fox Studios Australia,
38 Driver Avenue, Moore Park, NSW 2021
office: + 61 2 9492 1007
mobile: + 61 416 005 703
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