US-based commerce enabler Digital River has introduced Afterpay and Clearpay in its payment method offering to address consumer interest in Buy Now, Pay Later (BNPL) options. Digital River is looking to assist global brands in growing their sales by providing an increased number of preferred local payment methods.

The addition of the new offerings represents an expansion of Digital River’s extensive portfolio of payment options and is set to provide added flexibility to consumers looking to navigate economic headwinds. BNPL and what it entails for Digital River consumers Based on the information detailed in the press release, the findings of a 2022 Digital River report highlight that 64% of respondents who leverage BNPL services are doing that predominantly when shopping online, with a multitude of participants citing tighter finances and increasing costs as being the reasons for doing so. When talking about US-, Canada-, Australia-, and New Zealand-based customers, Afterpay provides customers with a BNPL offering with four interest-free instalments spread over the course of six weeks, with no fees being applied when paid on time.

Additionally, the announcement states that Afterpay reports an increased average order value of 40%, together with a purchasing frequency of 50% for those shoppers leveraging its product when buying online. Activating within the BNPL payments space in the UK, Clearpay enables customers to pay later with three interest-free instalments throughout 60 days, with no fees being applied when paid on time as well. As per the information detailed in the press release, providing Clearpay as a payment option is believed to help merchants attract, on average, up to a 40% increase in their customer base.

By collaborating with services of the likes of Afterpay and Clearpay, Digital River is looking to offer additional choices within the purchasing journey and have the ecommerce experience increasingly simplified for both online sellers and shoppers. Commenting on the announcement, Mike Penterman, SVP of Product at Digital River advised that shoppers showcase strong preferences towards the way of payment when shopping online. As per their statement, being consistent with its mission of enabling global ecommerce expansion, the addition of both Afterpay and Clearpay is set to help brands accommodate consumers as they aim to manage their budgets with payments over time.

What is more, offering the right payment options is believed to be a strong motivator for customers to carry out more business with a brand. Digital River’s mission and offering An industry disrupter, Digital River aims to simplify global commerce expansion, enabling companies to increase their revenue in more than 240 markets worldwide. Its business model combines payments, tax and compliance, fraud, and global logistics into a single integrated, flexible API-based solution.

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