#BNPL / Afterpay Expands Into Canada

Afterpay continues on its program of rapidly expanding the reach of its buy-now-pay-later (BNPL) services, this time by moving into the Canadian market. The big picture, the company said, is that “over 55,000 brands and retailers are offering, or in the process of offering, Afterpay to its more than 10 million customers across the world.”

Earlier this week, Afterpay announced it was boosting its European expansion efforts by acquiring the financial technology company (FinTech) Pagantis for minimum of €50 million ($59 million) from NBQ Corp.

Afterpay said it is working with “some of the best fashion, beauty and lifestyle brands and retailers in the market” as it enters the Canadian market. These include American Eagle, Ardene, Dermalogica, Goli, Perfume.com and Roots…

Afterpay gives shoppers the ability to receive products immediately and pay in four installments “over a short period of time.” The company added that “the service is completely free for Canadian customers – helping consumers spend money responsibly, without incurring interest, fees or revolving and extended debt.”