The changes include a new logo, which, instead of two disconnected triangles as it was previously, will now consist of “a continuous “loop,” representing the infinite relationship and connection between Afterpay’s customers and merchants,” the release says.
Geoff Seeley, Afterpay’s global chief marketing officer, said the change was supposed to reflect the company’s current global goals.
“Off the back of Afterpay’s strong global growth, the time has never been better to update our visual identity and more strongly reflect who our customers are and why they choose Afterpay,” he said, according to the release. “This new brand is a powerful representation of what we deliver for both consumers and merchants, with empowerment and financial wellbeing at its core.”
Afterpay’s new logo will be rolled out over a few weeks, the release says.
Afterpay’s U.S. CEO, Nick Molnar, spoke with PYMNTS last month on the effects the pandemic had on shopping. He said the pandemic had shown many luxury merchants that there were online alternatives to the usual in-person ways of shopping that could potentially draw new customers.
An analysis of why U.S. customers use Afterpay found that 83 percent enjoy the product’s features, like budget management and the lack of interest incurred. Over 50 percent of customers use the app weekly, while 93 percent say they expect their usage to stay the same.
BNPL services have become popular as of late, PYMNTS reported, with Afterpay picking up around 1 million new users during the coronavirus pandemic.
In July, Afterpay rolled out its Pulse feature, intending to reward those who made payments on time. The idea was to give a boost to young people using its app who have chosen to spend wisely, rather than encouraging more excessive spending as had been done in the past.
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