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Afterpay marks one million customers with one-day sales event

Buy now, pay later company, Afterpay, has teamed up with over 100 of its top retail partners for a 24-hour discount shopping event to mark one million customers in Australia.

Customers can access discounts of up to 40 per cent at participating retailers, including Country Road, General Pants and Mon Purse, starting at midday on 30 August.

Afterpay CEO Nick Molnar said the website and app, which was released in May 2017, are ready for a spike in demand during a traditionally slow period for retail.

“We’ve strategically selected a period when retail can be challenging. Afterpay has proven itself as a vehicle that helps grow traditional and online retail spending, and we look forward to taking this to another level with the Afterpay Day initiative,” Molnar said.

The ASX-listed company now has over 7,200 retailers and over 840,000 customers on board. In July, it announced new partnerships with global brands, including Sephora, MAC, La Mer and Puma, and iconic local brands, including Bonds and Specialty Fashion Group’s Katies, Millers, Crossroads, Autograph, City Chic and Rivers. It also announced its first international partner with Trade Me in New Zealand.

On 24 August, the payments innovator reported a 1,045 per cent increase in underlying sales, jumping from $37.3 million in FY16 to $561.2 million in FY17.

“We’ve worked around the clock to bring the best retail experience to our loyal customers, from the diversity of products to the technology which will ensure quick navigation, as well as the seamless and safe transactions which our customers have come to expect,” Molnar said.

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