TORONTO--(BUSINESS WIRE)--Native checkout company Bonsai and Afterpay, the leader in “Buy Now, Pay Later” payments, today announce their partnership to power seamless online shopping. This first-of-its-kind partnership enables a truly frictionless online shopping experience, leveraging publishers as a connection between merchants and potential customers.
Through Bonsai, shoppers can make purchases the moment they are inspired while enjoying content publisher sites, streamlining the usual checkout experience by an average of 4-5 clicks. Rather than being redirected to a separate login page or checkout flow, online shoppers can now access the Afterpay "Buy Now, Pay Later" payment option at the same moment they are inspired to purchase — much higher in the sales funnel. BuzzFeed, who has an industry-leading commerce business, is the first online publisher to sign on. Through the integration readers will now be able to purchase products directly within BuzzFeed content via Bonsai, and pay for their purchase in four interest-free installments with Afterpay.
“Bonsai and Afterpay have both been at the forefront of rethinking the way we shop online, so this partnership made perfect sense,” said Saad Siddiqui, Co-founder and CEO at Bonsai. “We’re building a native commerce ecosystem that brings publishers like BuzzFeed, merchants, and consumers together at the right moment, and with the right payment options available to them, to make online purchasing truly seamless.”
“In today’s digital world, consumers expect to be able to buy things with ease and flexibility - no matter where they may be online,” said Melissa Davis, Chief Revenue Officer at Afterpay. “Great media services like BuzzFeed can now extend beyond product recommendations to be a full funnel shopping experience, and now shoppers can use those services to spend their money responsibly and pay over time with Afterpay.”
“Since launch, BuzzFeed’s commerce business has always focused on our audience and putting their needs and behaviors first in both our content development process and partnerships. We are always looking for opportunities that allow us to super serve our audience and open up new ways for them to seamlessly transact across our properties,” said Nilla Ali, Senior Vice President of Commerce at BuzzFeed. “Through our integration with Bonsai and Afterpay we’ve created a frictionless checkout experience that gives them the flexibility to pay over time.”
This optimized e-commerce experience is a new approach to the decades-old idea of e-commerce through affiliate links, a way of redirecting readers from publisher content to a merchant’s website with a percentage commission paid to the publishers making the connection. Bonsai offers publishers 3-4 times the commission rate for each sale compared to traditional affiliates.
About Bonsai
Founded in 2016, Bonsai is an e-commerce platform trusted by elite publishers and retailers across North America and Europe. Bonsai’s discovery commerce technology allows users to purchase a product within the content they love. For publishers, Bonsai provides a better revenue alternative to intrusive ads and the chance to own the customer from inspiration to gratification. For 200+ merchants, ranging from Direct-to-Consumer brands to enterprise partners, Bonsai puts their natively shoppable products in front of an audience at the moment purchasing intent is being formed, achieving more sales with less friction. The company is headquartered in Toronto, Canada. Visit https://getbonsai.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 - helping people spend responsibly without incurring interest, fees or extended debt1. Afterpay is offered by nearly 100,000 of the world’s favorite retailers and has nearly 20 million registered 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 Late fees may apply. Eligibility criteria apply. See afterpay.com for full terms.
2 Results announced in FY21
