Rite Aid has established a partnership with “buy now, pay later” (BNPL) payment provider Afterpay, enabling the national drug store chain’s online shoppers a way to pay for everyday items in four installments at no additional cost when they pay on time.
“As a trusted destination for the health care needs of our communities, we are committed to providing our customers with offerings that make it easier for them to obtain the products they need to support their whole health,” noted Justin Mennen, Rite Aid’s chief digital and technology officer. “Our new partnership with Afterpay is another way we are leveraging technology to improve the customer experience and the overall health and wellness of our communities.”
“Our relationship with Rite Aid and expansion into drug store e-commerce comes at a time of increased shopper demand to pay over time,” said Zahir Khoja, general manager of global platforms and partnerships at San Francisco-based Afterpay, a wholly owned subsidiary of Block Inc. “Approximately 39% of consumers have indicated using BNPL more due to the pandemic and inflation. By expanding our platform and services to new everyday spend retailers, we can continue to help consumers unlock access to daily necessities while managing their budgets.”
Rite Aid will offer Afterpay on purchases made online at www.RiteAid.com, with plans to roll out the flexible payment option in stores nationwide in the coming months. Customers can apply Afterpay to any purchase made online, except for prescription drugs or products that require a prescription from a health provider.
More than 19 million active customers use Afterpay at more than 122,000 retailers worldwide. According to the company, nearly 70% of Afterpay’s highly engaged network consists of digitally native Gen Z and Millennial customers.
With more than 2,400 retail pharmacy locations across 17 states, Camp Hill, Pa.-based Rite Aid is No. 19 on The PG 100, Progressive Grocer’s 2021 list of the top food and consumables retailers in North America.