By Oliver Smith on Tuesday 23 November 2021
Automatic currency conversion means retailers can instantly open up their storefronts to US shoppers.
UK retailers offering Clearpay’s buy now, pay later payment options will be able to quickly enable US shoppers with the firm’s cross border offering.
The feature, which is already live for Australian, Canadian and New Zealand merchants, quickly converts prices to Dollars and lets shoppers spend without charging any conversion fees or set-up costs for retailers.
Over 6,000 UK merchant partners will be able to take advantage of the feature, which also comes with Clearpay’s standard four instalment payment plan.
Clearpay (known as Afterpay outside of the UK) says in its experience of other markets, these cross border shoppers typically transact around 24 per cent more frequently than domestic shoppers.
“We’re delivering to our merchant partners new customers who are proven to convert from browsers to buyers at a much higher rate—bringing increased sales, without additional set-up costs or fees,” said Clearpay’s UK country manager Rich Bayer.
“I’m thrilled that merchants in the UK will now have an added opportunity to grow their business just in time for the busy holiday season.”
Afterpay is in the process of being acquired by US finance giant Square for around $29bn, after previously mulling an IPO.
The transaction is expected to complete in the first quarter of 2022.
21 March 2023
Daniel Lanyon