News
Pentana Solutions partners with Afterpay
We’re always looking for new ways to innovate. That’s why we’ve partnered with Afterpay to help your dealership grow its business.
What is Afterpay?
Afterpay is Australia’s number one buy now, pay later platform. It lets customers buy what they need, when they need it – while paying in installments. Afterpay is easy to use, both for customers and dealerships. Although customers pay in installments, businesses get paid upfront. And it pays to offer Afterpay to your customers; surveys have shown that 48% of Afterpay customers would spend elsewhere if Afterpay wasn’t available (1).
Afterpay can help auto businesses reach more customers
With 4.1 million active consumers across Australia and New Zealand (2), Afterpay offers your dealership the opportunity to reach a wider audience. Best of all, Afterpay consumers are already spending in the automotive category; one in four Afterpay consumers have used Afterpay for automotive products or services in the past 12 months (3). On average, Afterpay customers spend $629 on automotive products and services, spent at automotive businesses an average 2.4 times every year. Partnering with Afterpay also provides you an opportunity to align with the next generation of automotive customers – 66% of Afterpay’s customer base are Millennial and Gen Z consumers (5)whose spending power is increasing and will make up 48% of consumer spending by 2030 (6).
Afterpay can help drive conversions and support customer retention
Offering Afterpay means providing your customers with more choice and flexibility when it comes to the way in which they pay. It can also increase the average booking value and drive customer loyalty.
How does it work?
Offering Afterpay to your customers is straightforward. You take payments from your existing point-of-sale, with no additional hardware required. When a customer purchases an item from your dealership using Afterpay, you get paid upfront (minus the Afterpay merchant fees). You can keep track of all Afterpay orders in our merchant portal, and receive regular settlements and reconciliation reports to help you verify payments.
Want to get started?
Launching Afterpay in your dealership is simple and requires no point-of-sale integration. Afterpay does all the heavy lifting, and our system flows into your existing reporting processes. Sign up today and we can have you up and running within days. Click on the form below to be automatically directed to Pentana Solutions’ dedicated account manager at Afterpay to find out more or get set up now.
1 Source: Afterpay Brand Equity Tracking, Australia and New Zealand, Wave 8, November 2023.
2 Source: Based on consumers with an approved transaction in Australia and New Zealand from March 2023 to February 2024.
3 Source: Afterpay owned data, November 2023.
4 Source: Based on the number of active Afterpay consumers in Australia and New Zealand who used Afterpay for automotive services from 1 January to 31 December 2023.
5 Source: Afterpay Brand Equity Tracking, ANZ Wave 8, October 2023.
6 Source: AlphaBeta report commissioned by Afterpay. Next Gen Index Forecasts based on the ABS Household Expenditure Survey 2015-2016, HILDA Waves 6-18.
