"Offering unique deals and incentives is a key strategy for driving conversions of more expensive, luxury products," said Kristen Gall, president at Rakuten Rewards. "In fact, luxury items saw an 86% sales lift over non-luxury items in a recent Cash Back promotion – showing Cash Back is universally valued, and not just by habitual coupon cutters. We're thrilled to partner with Afterpay to offer our retail and brand partners the opportunity to deliver the convenience of Buy Now, Pay Later that will help give their customers the ability to receive Cash Back on purchases immediately while paying over time, interest-free."
Rakuten is a leading shopping rewards program that offers Cash Back, deals and rewards from thousands of brands across apparel, health and beauty, dining, grocery, travel, on-demand services, subscription boxes and more. Members have earned $3.5 billion in Cash Back just for starting their shopping at Rakuten.com, in the Rakuten mobile app, or with the Rakuten browser extension. Similarly, recent findings have shown that Afterpay's U.S. customers could save up to $459m in credit card fees and interest in 2021 by making purchases with Afterpay instead of a credit card, further showcasing the value of this partnership for both consumers and merchants.
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