Digital River, an experienced global commerce enabler for established and fast-growing brands, today announced it is now offering Afterpay and Clearpay to address growing consumer interest in buy-now-pay-later (BNPL) options.
The new offerings represent an expansion of Digital River’s already robust portfolio of payment options, and grant added flexibility to consumers navigating economic headwinds. A 2022 Digital River report found that 64% of those who use BNPL services were doing so more in their online shopping, with many citing tighter finances and rising costs as reasons for doing so.
Afterpay allows customers across the United States, Canada, Australia, and New Zealand buy now and pay later with 4 interest-free installments over 6 weeks, with no fees when paid on time. Afterpay reports an increased average order value of 40% and an increased purchasing frequency of 50%.
Clearpay is a leader in buy-now-pay-later payments in the United Kingdom. Customers can pay later with 3 interest-free installments over 60 days, with no fees when paid on time. On average, offering Clearpay can help merchants attract up to 40% more new customers.
In partnering with services like Afterpay and Clearpay, Digital River aims to add choice to the purchasing journey and make ecommerce more seamless for online sellers and shoppers alike.
“Shoppers have strong preferences for how they pay when shopping online,” said Mike Penterman, SVP Product at Digital River. “Consistent with our mission of enabling global ecommerce expansion, adding Afterpay and Clearpay will help brands accommodate consumers as they look to manage their budgets with payments over time. Providing the right payment options is a strong motivator for customers to do more business with a brand.”