{"id":688134,"date":"2022-09-22T10:18:33","date_gmt":"2022-09-22T14:18:33","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/square-sellers-in-canada-can-now-offer-buy-now-pay-later-through-afterpay\/"},"modified":"2022-09-22T10:18:33","modified_gmt":"2022-09-22T14:18:33","slug":"square-sellers-in-canada-can-now-offer-buy-now-pay-later-through-afterpay","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/square-sellers-in-canada-can-now-offer-buy-now-pay-later-through-afterpay\/","title":{"rendered":"Square Sellers in Canada Can Now Offer Buy Now, Pay Later Through Afterpay"},"content":{"rendered":"

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Square Sellers in Canada Can Now Offer Buy Now, Pay Later Through Afterpay<\/b><\/p>\n

TORONTO–(BUSINESS WIRE<\/a>)–
\nToday, Square launches its first integration with Afterpay in Canada, providing \u201cBuy Now, Pay Later\u201d (BNPL) functionality to sellers using Square\u2019s e-commerce products across the country. The integration will enable Square sellers in Canada to offer Afterpay\u2019s BNPL experience to their customers, helping them attract new shoppers and drive incremental revenue.\n<\/p>\n

\n\u201cWe\u2019ve been using Square Online since we launched, and it\u2019s been fantastic. We\u2019ve also seen that BNPL options typically lead to sales increasing 20 to 30 per cent, so when we learned that we could now offer Afterpay, we were eager to implement it,\u201d said Susan Pond, owner of Fab Finds Online<\/a>, an e-commerce patio furniture and home goods marketplace headquartered in Vaughan, Ontario. \u201cSometimes people are looking at high-ticket items, which they can afford, but would simply prefer to pay in manageable instalments to avoid any expensive fees and credit card interest. Afterpay allows people to break their payments down, and does so without the onus being on us. This is a huge benefit to our business.\u201d\n<\/p>\n

\nThe buy now, pay later model has already taken off in Canada, fuelled by the accelerated shift to e-commerce during the pandemic. BNPL payments are projected to grow 63.5 per cent and reach $5.9 billion in Canada in 2022, according to data analytics company Research and Markets<\/a>. Canadian gen Z and millennials aged 18-44 use BNPL the most of any other consumer segments, according to a recent pilot study by the Financial Consumer Agency of Canada<\/a>.\n<\/p>\n

\nSince integration has taken place across the U.S and Australia, a combined Square and Afterpay has already proven to attract new shoppers and drive incremental revenue for sellers of all sizes. Sellers using Square Online are seeing the following impact on their businesses:\n<\/p>\n