Quadpay’s Inaugural ‘Quadpay Fest’ Drives 40% Increase in Net New Customers at Brand Partners, Competing with Black Friday


NEW YORK–(BUSINESS WIRE) –Quadpay, a Zip Company (ASX: Z1P), the fastest growing Buy Now, Pay Later company in the United States and ranked number two among five best BNPL apps, today released the results and buying trends¹ of its first “Quadpay Fest” sale – a four-day omnichannel shopping experience with over hundreds of offers and freebies – online, in stores across Canada. detail and on the Quadpay application.

Overall transaction volume at Quadpay increased 20% during the sale compared to the same period last month, with increased traffic to Quadpay partner brands, led by new net customers. On average, 40% of purchases were made by first-time customers from Quadpay brand partners, rivaling Black Friday new customer conversions. Of those who bought electronics, 55% were new customers using BNPL for electronics, again demonstrating a dominant position in the category. ² Additionally, of those who purchased food (grocery store and on-demand food delivery apps), 33% were first-time customers.

Almost 60% of Quadpay Fest purchases were made using mobile devices through Quadpay’s first virtual card which enables BNPL in physical stores and in the Quadpay app wherever Visa is accepted. During the sales event, consumers were also able to take advantage of the Chrome extension named Quadpay’s Webby, which offers online shoppers the same convenience on the desktop with their favorite merchant websites not offered by any other. BNPL provider. The categories with the most purchases during Quadpay Fest included Fashion, Beauty, Tech, Home, Kids, Grocery, Food Delivery, Travel, Footwear, and Jewelry.

“Quadpay Fest results exceeded our expectations and we are excited to support our merchant partners with referrals and additional revenue as they continue to bounce back from the pandemic, ”said Brad Lindenberg, Quadpay Co-CEO, A Zip Company. “This past year has accelerated the adoption of BNPL among consumers and continues to soar. With Quadpay, we are offering merchants the ability to provide customers with a seamless BNPL experience, and Quadpay Fest was a great way to attract new customers, generate revenue, and increase overall order value online and in physical stores.

Quadpay Fest offers, secret promotions, cash backs and giveaways were available in fashion, beauty, tech, electronics, home, travel and lifestyle, of the most sought after brands that are rarely on sale. Featured brands included Fashion Nova, Apple, Famous Footwear, Zara, Sunglass Hut, Target, Fanatics, Walmart, NewEgg, Nike, Gamestop, Victoria’s Secret, TickPick, among others, with sales of up to 70% on items. at full price.

Quadpay is part of Zip Co. Limited’s global operations, listed on ASX, which recently surpassed more than 7.6 million downloads, nearly 50,000 merchant partners and 6.4 million customers worldwide³.

Methodology

¹ Quadpay Fest data from Quadpay transactions online, in physical retail stores and in the Quadpay app for the period April 29, 2021 to May 2, 2021.

² According to the Quadpay Brand Tracker which collects data on a daily basis.

³According to the results of Zip Q3 FY21 here (period ending March 31, 2021).

About Quadpay, A Zip Company

Quadpay, A Zip Company (ASX: Z1P), is one of the leading tiered payment platforms in the United States, providing consumers with a simple, transparent, and financially responsible alternative to traditional credit. Quadpay is reinventing the payments landscape with a focus on innovation and customer focus, enabling more than millions of customers to pay in four interest-free installments over six weeks. Quadpay is part of Zip Co. Limited’s global operations, listed on ASX, in Australia, New Zealand, South Africa, UK and US. The company’s market-leading app enables seamless integration for merchants and the ability for customers to make interest-free online and in-store purchases not only with Quadpay’s thousands of integrated merchants, but also with major global retailers. For more information visit: www.quadpay.com.


About Valerie Wilson

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