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Gap and Afterpay Declare New Partnership in Time for Holiday Shopping
The addition of Gap is a part of a successful first quarter for Afterpay, during which the company's active customers increased to 6.5 million in the US market, averaging 15,000 new customers every day.
FREMONT, CA: Afterpay, the leader in "Buy Now, Pay Later" payments, has declared today that it has partnered with Gap with a mission to bring flexible spending to Old Navy, Banana Republic, Gap, and Athleta shoppers just in time for the holidays. Now, consumers who shop these brands online would have the option to select Afterpay at checkout to pay in four interest-free installments.
The addition of Gap is a part of a successful first quarter for Afterpay, during which the company's active customers increased to 6.5 million in the US market, averaging 15,000 new customers every day. The partnership is a response to customers requesting that Gap brands be included to Afterpay's Shop Directory, a request that's being met with enthusiasm by both the Afterpay and Gap teams.
As a global retailer with a portfolio of lifestyle brands, Gap is the largest company to provide Afterpay's buy now, pay later offering. Gap's world-class e-commerce platform also allows customers to shop across Old Navy, Athleta, Gap, Banana Republic, as well as Gap Factory and Banana Republic Factory, and check out, all in a single transaction. The addition of Afterpay is part of Gap's strategy to provide customers with more flexibility and freedom when shopping online.
"Collaborating with Afterpay gives our customers the power of choice when shopping across our family of brands," stated John Strain, Chief Digital and Technology Officer at Gap. "By adding Afterpay to our other payment options, we're able to provide a more customized shopping experience, give our customers additional convenience and control, and reach a younger demographic who may not have been able to shop with us before."
"We are proud to partner with Gap Inc. to bring Afterpay to such a powerful set of brands and their customers," stated Melissa Davis, Afterpay's Head of North America. "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 money and pay over time with Afterpay."