Gap and Afterpay announce partnership
Afterpay has partnered with Gap Inc. to bring shoppers a flexible holiday spend. Consumers shopping Gap brands online can choose Afterpay at checkout and pay in four interest-free installments. The partnership with Gap is in response to customers requesting that Gap brands be added to the Afterpay's Shop Directory.
Gap Inc. is the largest company to offer Afterpay's "buy now, pay later" offering. Gap Inc.'s e-commerce platform enables customers to shop across the company's brand including Old Navy, Gap, Banana Republic, Athleta, Gap Factory and Banana Republic Factory. Customers can check out from all brands in a single transaction. The addition of Afterpay is part of Gap Inc.'s strategy to offer customers more freedom and flexibility when shopping online.
"We are proud to partner with Gap Inc. to bring Afterpay to such a powerful set of brands and their customers," Melissa Davis, Afterpay's Head of North America, said. "This partnership stems from our shared desire to enhance the digital shopping experience for the very valuable Millennial and Gen Z consumer who prefer to spend their own money and pay overtime with Afterpay."
Afterpay's active customers grew to 6.5 million in the U.S. market, averaging 15,000 new customers per day.