Clearpay introduces cross-border commerce for merchant partners

Clearpay, the ‘Buy Now, Pay Later’ payment provider, has announced that its merchant partners can now offer their products to customers across the world.

The move means that merchants can open their e-commerce sites to Australian, British, Canadian and New Zealand customers, with the US being added next year.

According to Clearpay, which is known as Afterpay in the US, Canada, Australia and New Zealand, cross-border shopping represents a 1 trillion US dollar GMV (gross merchandise value) opportunity.

With Clearpay’s cross-border option, shoppers will see items in their local currency and at checkout will be able to opt to in four instalments over time, while participating retailers can open their storefronts to these shoppers without paying set up or currency conversion fees.

Clearpay first introduced cross border shopping in Australia and New Zealand in March 2019, which it said delivered year-on-year sales growth of nearly 576 percent, driven by “strong consumer demand”. The number of Australia and New Zealand merchants that are now selling outside their home country had grown 10 times.

Nick Molnar, Clearpay’s co-founder, said in a statement: “Cross border trade allows retailers to open their storefronts to the world - delivering new customers, higher conversion and ultimately more merchant sales, without additional set-up costs or fees.

“We are particularly excited to offer cross border capabilities at a time when consumers are buying online more than ever and in advance of this busy Christmas shopping season.”