After Digital Debut, Afterpay to Take Payments Services In-Store
Afterpay got its start by offering layaway-style payment plans to Millennials when they were shopping for fashions and goods online. Recently, the payments company, which runs a North American office in San Francisco, announced that it had made a deal with the mall company Simon to take the service to bricks-and-mortar shops. Simon owns malls including the Del Amo Fashion Center in Torrance, Calif., and the Fashion Valley mall in San Diego.
At participating retailers in Simon malls, shoppers will be able to make in-store purchases with four installment payments. They won’t have to pay upfront fees or interest, according to a joint statement from Simon and Afterpay. Customers can make purchases with Afterpay in-store by tapping a card icon on the Afterpay app on their digital device. Then they can complete purchases with Apple Pay or Google Pay, said Mikael Thygesen, Simon’s chief marketing officer.
“Afterpay’s unique in-store payment solution allows our shoppers to make immediate purchases from our retail tenants while paying over time, interest free— driving additional sales for our retailers,” Thygesen said. “We believe the service is well-suited for these challenging economic times and a great option for our consumers and retail tenants alike.”
Australian-headquartered Afterpay started its U.S. business in 2018. More than 5 million American shoppers have used the payment company’s services, according to a company statement.