Clearpay, a “Buy Now, Pay Later” payments company and known as Afterpay (ASX:APT) in the US, Australia and New Zealand, has announced that its in-store solution is now available to UK customers at some of the most well known retail stores nationwide.
Shoppers can use Clearpay to buy items in select retail stores using the Clearpay card, a virtual, contactless card stored in the Wallet app on iPhone or Apple Watch. Just like using Clearpay online, customers can pay for their in-store purchases in four installment payments, without the need to take out a traditional loan or pay upfront fees or interest. With the launch of the in-store solution, shoppers can now use the Clearpay they know with the added benefit of taking home their purchase that very same day.
Clearpay first introduced its in-store solution in 2016 in Australia and New Zealand (ANZ), wherefrom July 2020 to June 2021, 23% of underlying sales came from in-store. The service was launched in the US in 2020 and became one of the only online payment companies to successfully offer its service in physical stores. And as autumn turns into winter, and crisp walks and festive functions are back on the agenda, shoppers can now use Clearpay at some of their favourite stores, including Pandora and The Fragrance Shop. Consumers can find the full list of in store locations at the Shop Directory on the Clearpay website and in the Clearpay app.
“We are delighted to roll out our in-store capabilities to our UK customers just in time for the festive season, giving them the option to pay over time for their holiday shopping. By partnering with the nation’s favourite brands, we are making paying in-store more convenient, secure and contactless,” said Rich Bayer, Clearpay’s UK Country Manager. “Our in-store solution provides much needed positivity to the high street with new customers and more sales providing a boost in the run up to Christmas.”
Clearpay has found that its customers who shop both online and in-store spend twice as much per annum than online-only shoppers, and shop 61% more frequently.
Customers can initiate a purchase in stores by simply tapping the card icon in the Clearpay app, which activates the Clearpay card in the Wallet app and can be used to make purchases with Apple Pay. Shoppers can then take their purchase home right away but pay overtime, interest-free.