Square Expands Afterpay Integration to In-Person Points of Sale
To use Afterpay in-person, buyers simply tap to pay using a mobile wallet loaded with their virtual Afterpay card, and pay over four interest-free installments. Square sellers receive their full earnings from each sale immediately.
In their first quarter together, a combined Square and Afterpay has already proven to attract new shoppers and drive incremental revenue for sellers of all sizes. Sellers using Square Online are seeing the following impact for their businesses:
Transaction sizes are up: Across both the US and
Australia, average transaction size with Afterpay is 3x greater than non-BNPL purchases.
Rapid growth in buyers: Globally,we observed a 180% increase in new consumers leveraging Afterpay through Square sellers between February and
Meaningful growth among key merchant categories:
- In the US, retail businesses that offered Afterpay as a payments option on their website are seeing a meaningful lift in overall online sales, with men's and women's clothing stores growing 17%; specialized apparel and accessories, 15%; pet stores, 13%; sporting goods stores, 12%; and jewelry and watch shops, 10%.
In both countries, beauty and personal care businesses saw significant upticks in online sales, registering a 26% increase in
Australiaand a 16% increase in the U.S.
This growth is already extending to in-person commerce; during the beta period, average order value (AOV) for in-person Afterpay purchases more than doubled in
“More than ever, shoppers expect to be able to make purchases with their preferred method of payment,” said
To further sales growth, Square sellers will be discoverable in Afterpay’s Shop Directory, a marketplace available both online and from the Afterpay app that showcases sellers offering Afterpay. Shop Directory supplies hundreds of millions of leads per year to sellers and gives buyers the ability to search for Square sellers near them making it easier to shop and support local small businesses.
“Adding Afterpay to Square’s in-person commerce software furthers our goal to give all sellers omnichannel tools that unlock new growth opportunities for them,” said
“Our buyers are young, high-intent consumers who prefer Afterpay and quickly become repeat customers for our merchant partners,” said
Square sellers can enable Afterpay starting today and try BNPL at promotional rates until
Square helps sellers more easily run and grow their businesses with its integrated ecosystem of commerce solutions. Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services and banking products, buy now, pay later functionality through Afterpay, staff management and payroll capabilities, and much more – all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their business and help them thrive in the economy. Square is part of
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