IKEA Partners with Afterpay to Offer Its First-Ever Buy Now, Pay Later Program

Furniture World News Desk on 9/19/2023

Today, IKEA U.S. introduces its first-ever Buy Now, Pay Later (BNPL) program in partnership with Afterpay, providing increased financial accessibility through a budget-friendly payment option for shoppers. Afterpay “Pay in 4” service is now available nationwide in-store and online at IKEA.com for all U.S. customers.

IKEA U.S. and Afterpay partnered to enable financial freedom and affordability to today’s consumers who prefer to pay over time. IKEA continues to provide a seamless and affordable shopping experience for the many, while also providing high-quality products and services. Afterpay’s interest-free product allows customers to pay in four payments over a six-week period with no credit impact to customers for eligible orders. This omnichannel partnership enables customers to shop for IKEA home products and choose Afterpay’s flexible solution at checkout. In-store customers can scan a QR code to download the Afterpay app or log in to their existing Afterpay account and add the payment method to their virtual wallet.

“IKEA values our customers and strives to ensure accessibility and affordability. We aim to provide the best shopping experience with great quality products, for the many,” says Christine Briganti, Financial Services Deployment Project Leader for IKEA U.S. “By partnering with Afterpay, we will lower the barriers for our customers to design their dream spaces.”

“At a time when people are looking for more payment flexibility on home furnishings, we are excited to partner with IKEA, a brand synonymous with affordability and design,” says Alex Fisher, Head of Revenue, North America, Afterpay and Cash App. "As a trusted commerce partner for the IKEA U.S. market, this partnership can help our customers create a home that they love through simple, transparent and responsible spending."

Together, IKEA U.S. and Afterpay aim to create a seamless shopping journey with easy purchases and streamlined returns if needed. Returns are processed like any other credit or debit card return. Once a return is processed, Afterpay will generally update that order to reflect the refund, with an updated payment schedule, and send the customer an email detailing the changes. Refunds can be viewed by logging into the customer’s Afterpay account and processed refunds can take up to 10 business days to reflect depending on the financial instrument linked to the order.

About IKEA U.S.
 At IKEA, the vision is to create a better everyday life for the many people by offering well-designed, functional and affordable, high-quality home furnishing, produced with care for people and the environment. Ingka Group (Ingka Holding B.V. and its controlled entities) is one of 12 different groups of companies that own and operate IKEA retail under franchise agreements with Inter IKEA Systems B.V. Ingka Group has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Ingka Group is a strategic partner in the IKEA franchise system, operating 389 IKEA stores in 32 countries — including 52 retail locations in the U.S.

For more information on IKEA U.S., see IKEA-USA.com, @IKEAUSANews, @IKEAUSA or IKEAUSA on Facebook, YouTube, Instagram and Pinterest.

About Afterpay Limited
 Afterpay is transforming the way we pay by allowing anyone to buy products immediately and pay over time - enabling simple, transparent and responsible spending. We are on a mission to power an economy in which everyone wins. Afterpay is offered by thousands of the world’s favorite retailers and used by millions of active global customers. Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, where it is known as Clearpay. Afterpay is a wholly owned subsidiary of Block, Inc. (NYSE: SQ).