AFRM - Afterpay stock rises almost 10% after expanding BNPL to 13 major retailers

Ridofranz/iStock via Getty Images Afterpay (AFTPF) shares gain 9.9% in the two sessions since the company announced the expansion of its "Buy Now, Pay Later" payment services to 13 major retailers through the fintech's app. The U.S. retailers include Amazon, CVS, Dell, Kroger, Macy's, Nike, Nordstrom, Nordstrom Rack, Sephora, Target, Victoria's Secret, Walgreens, and Yeti; all together, the retailers account for almost half of all U.S. ecommerce volume, Afterpay said. When select app customers use Afterpay to make a purchase from the retailers, Afterpay uses a one-time card to facilitate the purchase. The expansion is expected to boost sales and margins of the Australia-based company, according to analyst notes. The "functionality will be materially incremental to volume  and frequency over time in the U.S.," Tim Piper, an analyst at RBC Capital Markets, wrote. Seeing these merchants "can only be accessed through the app, it increases consumers' engagement with the Afterpay app, which

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Afterpay stock rises almost 10% after expanding BNPL to 13 major retailers