Rite Aid and Afterpay team up to offer ‘Buy Now, Pay Later’ on everyday items

SAN FRANCISCO–(BUSINESS WIRE)–Afterpay, the leader in Buy Now, Pay Later (BNPL) payments, and trusted healthcare retailer Rite Aid (NYSE: RAD) today announced their partnership, offering online shoppers of Rite Aid a new way to pay for everyday items in four installments at no extra cost when you pay on time. This partnership will help customers access and spend responsibly on everyday goods with Afterpay’s powerful budgeting tool.

“Our relationship with Rite Aid and our expansion into pharmacy e-commerce comes at a time when buyer demand is increasing over time. About 39%1 of consumers reported using BNPL plus due to the pandemic and inflation,” said Zahir Khoja, Managing Director of Global Platforms and Partnerships at Afterpay. “By expanding our platform and services to new retailers who spend every day, we can continue to help consumers access everyday necessities while managing their budget.”

“As a trusted destination for the health needs of our communities, we are committed to providing our customers with offerings that make it easier for them to get the products they need to support their overall health,” said declared Justin Mennen, Director of Digital and Technology for Rite Aid. “Our new partnership with Afterpay is another way we are leveraging technology to improve the customer experience and the health and well-being of our communities.”

Rite Aid will offer Afterpay on purchases made online at www.RiteAid.com and plans to roll out its flexible payment option to stores nationwide in the coming months. Customers can apply Afterpay to any purchase made online, except for prescription drugs or products that require a prescription from a healthcare provider. With nearly 70%2 From Afterpay’s highly engaged network of digitally native Gen Z and Millennial customers, Rite Aid can expect to see a new generation of consumers shop online using BNPL.

Over 19 million active customers use Afterpay at over 122,000 of the world’s favorite retailers to buy what they want and need without resorting to expensive loans.⁴ Learn more about how Afterpay transformed the how consumers shop – both online and in-store at the world’s top brands – please visit newsroom.afterpay.com.

About Rite Aid Corporation

As a trusted daily care connector, Rite Aid lowers healthcare costs through better coordination, stronger engagement, and personalized services that help you achieve complete health for life. We offer a comprehensive family health line of products and services at approximately 2,450 retail pharmacies in 17 states. Through Elixir, we provide pharmaceutical benefits and services to millions of members nationwide. For more information, visit www.riteaid.com.

About Afterpay Limited

Afterpay transforms the way we pay by allowing customers to buy products immediately and pay for their purchases in four instalments.3 The service is completely free3 for customers who pay on time – helping people spend responsibly. As of December 31, 2021, Afterpay is offered by over 122,000 of the world’s preferred retailers and over 19 million active customers have adopted the service.4

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 where everyone wins. Afterpay is a wholly owned subsidiary of Block, Inc. (NYSE: SQ).

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1 Source: Coresight x Afterpay, The Inflation Pressure Cooker: How North American Consumers Are Responding, April 2022

2 Source: Accenture x Afterpay, Next Gen Index, February 2022

3 Late fees may apply. Eligibility criteria apply. See afterpay.com for full terms.

4 Figures published in the Q4 2021 block results