The online retailer, Ebay is set to launch a ‘buy now, pay later’ scheme next year as they are set to partner with AfterPay. The payments giant will first launch on Ebay’s Australian platform in 2020, which will allow the website’s 11 million monthly users to pay for their purchases from around 40,000 businessess in installments.
AfterPay recently secured a strong foothold in the UK, where they signed a deal to offer payment plan packages to Marks & Spencer customers, other recognisable retailers such as Urban Outfitters, Anthropologie, Free People & Boohoo have signed up to the digital payments provider.
The Australian digital payments provider launched four years ago and offers interest free debit-by-instalment services for over 30,000 merchants in the US, New Zealand and Australia, and reported global underlying sales of $2.7 billion in the four months to the end of October.
“The partnership represents Afterpay Australia’s largest online arrangement to date, which allows both companies to align on a mutual approach of adding value to merchants by helping them access new and repeat customers,” Afterpay stated in a recent trading update.
