Buy now, pay later FinTech Clearpay has introduced cross border trading to enable UK merchant partners to sell to the US.
In Brief:
Founded as Afterpay in Australia, the business is known as Clearpay in the UK and Europe.
6,000 merchant partners in the UK will now be able to sell to US buyers.
They were already able to sell to Australia, New Zealand and Canada.
What does this mean?
Beginning life as a buy now, pay later business offering interest-free credit, like some of its competitors Clearpay now offers a “shopfront” for merchants, helping them to reach new customers. This has been expanded to help businesses reach the US market while consumers can access new products from a brand they are familiar with.
Clearpay’s UK Country Manager, Rich Bayer, commented: “With Clearpay’s new cross border offering, 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. 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.”
