Retail software company Vend has teamed up with Australian-based ‘buy now, pay later’ platform Afterpay to make it easy for SME retailers to offer the popular payments solution in-store.
Afterpay has taken in popularity after its launch into New Zealand six months ago. It allows customers to buy their items instantly, putting down a quarter of the cost and spreading the remaining payments over three equal fortnightly payments. Unlike a traditional layby service, shoppers receive their items as if they’d paid in full.
The service is used by more than 14,000 merchants in Australia and New Zealand. Its online adoption has been swift, but so far, its bricks and mortar accessibility has been limited to larger brands like Mi Piaci.
Now that Afterpay has integrated with Vend’s point-of-sale software, offering Afterpay in-store is easy for SME and independent retailers. It’s as simple as scanning the customer’s Afterpay barcode from their mobile device – the payment feeds straight into Vend’s POS system, resulting in a seamless check-out process.
Lower Hutt single-store retailer Empire Skate and Street was one of the first clients to pilot the new Afterpay and Vend integration. Director Matt Wells said the results were impressive.
“We are really excited Afterpay is now available, online and in-store. We know it'll help us offer our customers an even better experience. That's why we signed up to trial the new integration with Vend and we were happy to be one of the first retailers in New Zealand to do so. We can't wait for our customers to come in-store and be able to use this new payment option.”
Vend country manager for Australia and New Zealand, Dave Scheine, says the company wants to “level the playing field” for independent retailers by giving them access to the same tools bigger companies have.
“We’re really pleased we can now offer Afterpay to our bricks-and-mortar retailers, to help them create a modern, attractive shopping experience for their customers. And it’s really exciting for us as a company - buy-now, pay later is a fast-growing and popular way to pay that’s only going to get bigger. It’s something our retailers need to be offering, which means we need to be providing it for them.”
Afterpay is now available to all New Zealand retailers using Vend.