SAN FRANCISCO, Aug. 5, 2020 /PRNewswire/ -- Afterpay (ASX:APT), the leader in "Buy Now, Pay Later" payments, today introduced a new global look, feel and positioning, which captures the power and value enabled by the platform at a time of incredible growth for the business and its customers.
Based on significant user research and trend forecasting, Afterpay collaborated with renowned colour institute Pantone on an exclusive mint hue, aptly named Bondi Mint. The color is transparent, fresh, energetic and modern, which aligns with the attributes and values of the Afterpay customer. The logo has evolved from two disconnected triangles, to a continuous "loop", representing the infinite relationship and connection between Afterpay's customers and merchants. This connection creates a network effect that generates, on average, 14 million referrals per month from its Shop Directory to its merchant partners.
Speaking of the new brand Afterpay Global CMO, Geoff Seeley notes:
"Off the back of Afterpay's strong global growth, the time has never been better to update our visual identity and more strongly reflect who our customers are and why they choose Afterpay. This new brand is a powerful representation of what we deliver for both consumers and merchants, with empowerment and financial wellbeing at its core."
Afterpay will continue to make a significant investment in building brand equity and expects to drive even more use of its platform and more positive business results for its merchant partners with its new modern approach to its brand. The distinctive logo will be rolled out globally across all of Afterpay's 55,000 merchant websites and physical stores over the coming weeks.
Launched over five years ago in Sydney Australia, Afterpay has emerged as one of the most disruptive companies in retail fintech, largely due to its unique product that fulfills a critical need for so many consumers. Consumers prefer Afterpay because it empowers them to access the things they want and need in their life, while still allowing them to maintain financial wellness and control. For this reason, the business has grown around the world to nearly 10 million customers and more than 55,000 merchants offering Afterpay.
A recent analysis of Afterpay customers in the U.S. found that 83% of customers use the service because of its product features - specifically budget management and the lack of incurred interest. The same report found that just over 50% of Afterpay customers visit the Afterpay app/portal weekly, and 93% expect their usage of Afterpay to either increase or stay the same.
Afterpay's new brand system was developed with support from YummyColours.
About Afterpay Limited
Afterpay Limited (ASX: APT) has transformed the way people pay by giving merchants the ability to allow shoppers to receive products immediately and pay in four simple interest-free installments over a short period of time. The service is completely free for customers who pay on time - helping consumers spend money responsibly without incurring interest, fees or revolving and extended debt. As at June 30, 2020 Afterpay is offered by more than 55,400 of the world's best retailers and is used by more than 9.9 million active customers globally.
Afterpay is currently available in Australia, New Zealand, the United States and the United Kingdom where it is called Clearpay. Afterpay is on a mission to power an economy in which everyone wins.