Digital Transactions Authoritative, insightful and timely information for payments professionals
Afterpay, Block Inc.’s buy now, pay later service, has reached a deal with footwear company Caleres to offer buy now, pay later across Caleres’s portfolio of retail brands. The brands include Famous Footwear, Sam Edelman, Allen Edmonds, Naturalizer, Vionic, Bzees, Circus NY, Dr. Scholls, Franco Sarto, Lifestride, Ryka, and ShoeBank. Altogether, Caleres operates nearly 1,000 retail stores.
The deal also includes Caleres offering Afterpay’s in-store payment solution to select brands in the United States, including Famous Footwear, Sam Edelman, Allen Edmonds, and Naturalizer. In addition to selling through retail stores, Caleres also sells through e-commerce sites, department and specialty stores, and third-party retail platforms.
The deal significantly grows Afterpay’s presence among retail footwear brands, which include Adidas AG, Steve Madden Ltd., UGG, and ASICS Corp.
Consumers purchasing through a Caleres retail brand will have the option of financing the purchase using Afterpay’s Pay in 4 service, which allows them to pay for a purchase in four interest-free installments, or through Afterpay’s Pay Monthly plan, which spreads payments over three to 24 months.
During the test phase, Caleres has seen online and in-store customers choose Afterpay as a payment option, the company says.
“This expanded partnership allows us to offer this valuable payment option across our entire family of brands, making our diverse footwear collections more accessible to fashion-conscious consumers who prefer to pay over time,” Willis Hill, chief information officer for Caleres says in a statement.
