Unlocking merchant growth with Afterpay

Just a few short years ago, the retail landscape underwent a massive transformation with the advent — and rapid adoption — of buy now, pay later (BNPL) services. But with so many new entrants looking to solidify their presence in the market, only the most valuable solutions have stood the test of time. Here’s how Afterpay continues to deliver true value to merchants. 

The numbers don’t lie 

There’s been a seismic shift in the way consumers pay for things — and the numbers don’t lie. More than three in five (62%)* Australians have used a BNPL service in the past year alone, including 57% of millennials1. 

Since the beginning, Afterpay has been the household name for BNPL in Australia, and it’s still a top choice for one in three shoppers*. One of the reasons behind its success is simplicity and user-friendliness, with the platform boasting an impressive 93% five-star reviews on Trustpilot, and over 166,000 reviews overall for an average rating of 4.8/5. 

But it’s not just about the buyers. For merchants, partnering with Afterpay can help unlock a raft of benefits that empower you to harness growth and support customers in their everyday transactions. 

Driving merchant success: Afterpay’s merchant benefits 

As an Afterpay merchant, using the platform can help boost conversions and amplify brand exposure — all for the purpose of raising consumer engagement. Beyond just facilitating transactions, Afterpay provides shoppers with a seamless and compelling purchasing journey. 

Then there’s the allure of cross-border trade. Merchants have access to a global audience with Afterpay, going beyond geographical boundaries with the ability to reach consumers in regions where Afterpay is available; Australia, Canada, New Zealand, the United States and the United Kingdom, where it is known as Clearpay. You can toggle regions on and off at will, which opens the door for high-value customer acquisition while broadening your customer base. Being able to transact in local currencies and settle payments in your buyers’ preference adds another layer of simplicity for all parties. 

Then there’s the game-changer: Afterpay’s Ads & Affiliates program. Being a hugely popular shopping destination, Afterpay has become a top-performing publisher in the largest affiliate networks around the globe. The Ads & Affiliates program helps boost conversions, increase brand exposure, generate greater buyer engagement and more. The statistics speak for themselves, with merchants who have turned on Afterpay ads in Australia seeing a lift across all key metrics, including: 

• 65% boost in daily clicks**
• 15% rise in daily orders**
• 11% higher daily GMV**

By offering customers the flexibility to spread out their payments over time, Afterpay merchants see a clear rise in the average order value (AOV). In fact, Afterpay customers have an AOV 28% higher than non-Afterpay customers.*** 

Consumers using Afterpay tend to spend more per transaction, which is a testament to the platform’s ability to encourage shoppers to explore more products and indulge in higher-value purchases. The result? Higher revenue streams for merchants. 

Beyond a one-time transaction, Afterpay can help foster a culture of loyalty and repeat business. It seamlessly integrates with the shopping experience to make life more convenient for consumers while also creating a sense of trust. This results in higher customer frequency, with Afterpay users keen to return to merchants who offer flexible payment solutions. Indeed, Afterpay customers spend 21% more frequently than non-Afterpay customers.***

Seeking growth in all things 

Growth is the holy grail for all retailer operators. By giving merchants a tool to boost conversions, reduce abandonment rates and encourage customers to return again and again, Afterpay doesn’t just make transactions easier — it helps merchants generate sustained growth. 

The introduction of BNPL changed the face of doing business forever, and Afterpay has played a key role in its evolution. The platform continues to evolve and provide true value for its merchants. Ultimately, Afterpay never wanted to be just a payment solution. Instead, it seeks to be a strategic growth enabler for merchants — one transaction at a time. 

Learn more about becoming an Afterpay merchant here 

References

*Brand Equity Tracking Wave 8 – AU & NZ, Afterpay, October 2023.
**Afterpay Internal Data, Jan-Dec 2023
***Quantifying the incremental impact of Afterpay, Mastercard & Afterpay, June 2022