Payments infrastructure provider Stripe today announced a partnership with buy now pay later (BNPL) giant Afterpay to bring its deferred payments option to more retailers, starting with users of Squarespace.
The deal means merchants using Stripe’s online payments system will be able to more easily add Afterpay as a checkout option. Stripe says its merchants can start accepting Afterpay in minutes, with no application, onboarding, or underwriting process to get started.
The BNPL option will first be made available to ecommerce platforms running on Squarespace, the website building platform popular with smaller businesses.
“We’ve seen strong demand from users around the world for flexible payment options, and this partnership gives businesses on Stripe an effective tool for capturing more sales and reaching new customers,” said Noah Pepper, Stripe’s business lead for APAC.
Paul Gubbay, Chief Product Officer at Squarespace said Afterpay has been a top requested feature of Squarespace users.
“Through this partnership, we’re glad to be able to offer our merchants even more flexibility in how they transact with their customers and increase topline sales without having to sacrifice the design elements that are unique to their brand.”
Ben Presseley, Afterpay’s SVP of Global Sales Strategy and Operations said, “Millennial and Gen Z consumers are demonstrating a clear preference for flexible payment options that allow them to budget and spend responsibly.
“By partnering with Stripe and Squarespace, we’re equipping retailers with the tools to meet this consumer demand – offering the younger generation a way to use their own money and pay over time, always free of interest.”