Afterpay Unlocks New Pulse Rewards - Opens to All Afterpay Customers

Rhea-AI Summary

Afterpay (ASX: AFTPY) has significantly expanded its Pulse Rewards program, allowing all customers to earn points for timely payments. The new dashboard enhances user experience by tracking payment stats and reward options. Customers earn 10 points per on-time payment, with additional points available for supporting small businesses and sustainable brands. The program includes enticing rewards like gift cards and exclusive offers from popular merchants. Afterpay promotes responsible spending, contrasting with traditional credit card rewards.

Positive

• All Afterpay customers can now join Pulse Rewards for free, enhancing customer engagement.
• The introduction of a points system incentivizes timely payments, fostering financial wellness.
• Members can earn points through various activities, increasing customer loyalty.
• Rewards include gift cards and exclusive offers from top brands, attracting more users.

Negative

• None.

SAN FRANCISCO, June 29, 2021 /PRNewswire/ -- Afterpay (ASX:APT), the leader in "Buy Now, Pay Later" payments, today announced it has vastly expanded Pulse Rewards, its unique loyalty program that recognizes members for paying on time.

Under the new Pulse Rewards, Afterpay customers can unlock benefits through a points system that makes the experience more rewarding and fun. Additionally, a newly-designed Pulse Rewards dashboard within the app helps customers track their payment stats, and allows them to choose when, where and how to use their rewards.

Afterpay Pulse Rewards works in the following way:

Eligibility for all Afterpay customers
Starting today, all Afterpay customers can join the program free of charge in the app and start earning points to unlock rewards. The program also recognizes and includes previous Afterpay activity to reward customers for their past on-time payments.

A robust and dynamic program
Under Pulse Rewards, every eligible on-time payment earns 10 points. With more points earned, higher tiers and more rewards can be accessed. Members can also earn extra points in new ways like shopping in-store, supporting sustainable brands, supporting small businesses, and shopping during yearly seasonal moments such as Black Friday and Afterpay Day.

More enticing rewards
Members are rewarded with valuable benefits. Eligible customers can enjoy:

• No payment required upfront¹
• Gifts cards from top brands available for purchase 
• Exclusive offers and promotions from top merchants, which at launch include Steve Madden, NARS, Tatcha, Vince and Rebecca Taylor.

"Pulse Rewards is a stark contrast to the reward programs offered by credit card companies, which encourage and reward excessive spending," said Zahir Khoja, General Manager for Afterpay North America. "Our model promotes financial wellness, which reflects a growing generation of consumers who prefer to spend responsibly and avoid revolving debt and interest."

Consumers can start joining Pulse Rewards today in the Afterpay app and can find more information on the program at Afterpay.com.

About Afterpay Limited
Afterpay Limited (ASX: APT) is transforming the way we pay by allowing customers to receive products immediately and pay for their purchases over four installments, always interest-free. The service is completely free for customers who pay on time - helping people spend responsibly without incurring interest, fees or extended debt. As of March 2021, Afterpay is offered by nearly 86,000 of the world's favourite retailers and has more than 17 million customers in North America alone².

Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, France, Italy and Spain, where it is known as Clearpay. Afterpay is on a mission to power an economy in which everyone wins.

1 First payment due two weeks after purchase
2 Since inception

 

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SOURCE Afterpay

FAQ

What is Afterpay's new Pulse Rewards program and when was it launched?

Afterpay's Pulse Rewards program, launched on June 29, 2021, allows all customers to earn points for timely payments and access rewards.

How does Afterpay's Pulse Rewards program work?

Customers earn 10 points for every on-time payment, with opportunities to earn extra points through shopping activities.

What types of rewards can customers earn through Pulse Rewards?

Customers can earn gift cards and exclusive offers from brands like Steve Madden, NARS, and Tatcha.

How does the Pulse Rewards program benefit Afterpay customers?

The program promotes responsible spending and financial wellness, rewarding customers for on-time payments.

What is the significance of the new Pulse Rewards dashboard for Afterpay users?

The dashboard helps customers track payment stats and rewards, enhancing the overall user experience.