Square Adds Afterpay BNPL In-Store Integration

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Square has been making use of its recent acquisition of Afterpay by adding more buy now, pay later (BNPL) integrations for in-person shopping, according to a Tuesday (May 17) company press release.

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Shoppers looking to use Afterpay in-person can use a mobile wallet, which contains their virtual Afterpay card, at the point of sale (POS). Then, they can access the installment payments. The release said Square sellers can receive their full earnings from the sales right away.

Square said its Afterpay acquisition has resulted in a glut of new shoppers and more revenue, adding that sellers using Square Online have seen bigger transaction sizes, more growth in buyers and more growth in important merchant categories.

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The growth has been extended to in-person commerce, too, with the average order value reportedly more than doubling in Australia, and U.S. orders having around a 50% increase.

“Our buyers are young, high-intent consumers who prefer Afterpay and quickly become repeat customers for our merchant partners,” Nick Molnar, Afterpay lead at Square, said in the release. “Together, Afterpay and Square can help sellers of all sizes capture the next generation shopper and compete at a larger scale.”

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Meanwhile, Alyssa Henry, head of Square, said the addition of Afterpay to in-person commerce “furthers our goal to give all sellers omnichannel tools that unlock new growth opportunities for them.”

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PYMNTS wrote that Square has also recently rolled out other tools, including new application programming interfaces (APIs) to help developers build eCommerce solutions — Bookings API and Checkout API.

See also: Square Launches New Tools for Commerce Apps, Cash App Pay

Bookings was available as of May 12 and will help developers leverage Square Appointments functionality within the app to make bookings, search availability and send automated texts and email reminders, among other things.

Meanwhile, Checkout API allows Square to be integrated through a checkout page hosted by the company. It works through text, website, internal dashboards, in-store and other things.

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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORE CARDS – APRIL 2022

About: Shoppers who have store cards use them for 87% of all eligible purchases — but this doesn’t mean retailers should boot buy now, pay later (BNPL) options from checkout. The Truth About BNPL And Store Cards, a PYMNTS and PayPal collaboration, surveys 2,161 consumers to find out why providing both BNPL and store cards are key to helping merchants maximize conversion.



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