“Buy now, pay later” company Afterpay announced Wednesday that it was going after the $1.5 trillion global subscription payments market by offering to its U.S. customers payment installments for subscriptions, like gym memberships, entertainment subscriptions and online services.
The service will launch in both the U.S. and Australia beginning early in 2022 and will be free for customers who pay on time. IPSY, BoxyCharm, Savage X Fenty and Fabletics are among the initial list of merchants that will offer the feature. The company plans to expand the feature in-store and into other regions later, including Canada, New Zealand, the U.K. and Europe.
In addition to paying for subscriptions in installments, Afterpay is also enabling its offering to be used on preordered items, where users can pay in four installments over time once the item ships. Another featu …
