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Afterpay unveils BNPL subscription offering for U.S. customers – TechCrunch

“Buy now, pay later” company Afterpay announced Wednesday that it was going after the $1.5 trillion global subscription payments market by offering payment installments for subscriptions, like gym memberships, entertainment subscriptions and online services, to its U.S. customers. 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. In addition to paying for subscriptions in installments, Afterpay is also enabling its offering to be used on pre-ordered items, where users can pay in four installments over time once the item ships. Klarna, Afterpay’s competitor in the BNPL space, also announced news this week for its U.S. customers that it was offering its “Pay Now” option. Afterpay works with 100,000 retailers and has approximately 10.5 million active customers in North America as of June 30, up from 5.6 million the year prior.

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