Afterpay (ASX:APT), the leader in “Buy Now, Pay Later” payments, and Unibail-Rodamco-Westfield (URW), owner of Westfield shopping centers in the U.S., today announced an integrated, multi-year national partnership to support retailers by offering consumers a more flexible way to pay for their purchases as they return to shopping in stores.
Through this partnership, the companies will jointly invest in new customer experiences, retail innovation, events, marketing and on-premise advertising at Westfield shopping centers – helping merchants and their customers celebrate the re-opening of in-person retail. The joint activity will extend to Westfield centers in the U.S., with plans to take the partnership global in the coming months.
Despite the acceleration of e-commerce during the pandemic, a recent survey conducted by Westfield found that nearly half of consumers are excited to shop in-person again — with 63% of consumers calling in-person shopping a “special treat.” Consumers are eager to try on clothes, browse the aisles and shelves, and use the physical shopping experience to see and feel the quality of items. The immediacy of in-person shopping also has an impact – with 73% of shoppers stating that the ability to go home with their purchases right away is a big factor in their decision to return to malls.
New In-Store Retailers Offering Afterpay
A number of new brands with a Westfield location across the country have recently begun to accept Afterpay, including Lush Cosmetics, Aldo, The Children’s Place and The Container Store. Afterpay is one of the only payments companies to successfully take its online business to physical retail – driving adoption of both contactless and flexible payments in stores. Nearly 4.5 million customers have set up the Afterpay Card to shop in person since its solution went live in Fall 2020.
“Afterpay is the ideal BNPL partner for us because we share a commitment to providing seamless and effective solutions to retailers that, in-turn, provide increased choice and flexibility for consumers,” said Colin Shaughnessy , Executive Vice President, U.S. Leasing, URW. “We look forward to working together to elevate the in-store shopping and media experience across our portfolio in the U.S.”
“Afterpay is an ideal solution for this new era of commerce because our contactless payment solution is secure and clean, while also allowing shoppers to spend responsibly and avoid revolving debt and interest,” said Zahir Khoja , General Manager of Afterpay North America. “We are thrilled to partner with Westfield, as shoppers and retailers alike celebrate the reopening of stores.”
About Afterpay Limited
Afterpay Limited (ASX: APT) is transforming the way we pay by allowing customers to receive products immediately and pay for their purchases over four installments, always interest-free. The service is completely free for customers who pay on time – helping people spend responsibly without incurring interest, fees or extended debt. As of March 2021 , Afterpay is offered by nearly 86,000 of the world’s favourite retailers and has more than 17 million customers in North America alone 1 .
Afterpay is currently available in Australia , Canada , New Zealand , the United States and the United Kingdom , France , Italy and Spain , where it is known as Clearpay. Afterpay is on a mission to power an economy in which everyone wins.
Unibail-Rodamco-Westfield is the premier global developer and operator of Flagship Destinations, with a portfolio valued at €56.3 Bn as at December 31, 2020 , of which 85% in retail, 8% in offices, 5% in convention & exhibition venues and 2% in services. Currently, the Group owns and operates 87 shopping centres, including 53 Flagships in the most dynamic cities in Europe and the United States . Present on two continents and in 12 countries, Unibail-Rodamco-Westfield provides a unique platform for retailers and brand events and offers an exceptional and constantly renewed experience for customers.
With the support of its 3,100 professionals and an unparalleled track-record and know-how, Unibail-RodamcoWestfield is ideally positioned to generate superior value and develop world-class projects.
Unibail-Rodamco-Westfield distinguishes itself by its Better Places 2030 agenda, which sets its ambition to create better places that respect the highest environmental standards and contribute to better cities.
Unibail-Rodamco-Westfield stapled shares are listed on Euronext Amsterdam and Euronext Paris (Euronext ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from an BBB+ rating from Standard & Poor’s and from a Baa2 rating from Moody’s.
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1 Since inception
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