Cash App and Afterpay have announced they are debuting a new brand in a bid to broaden access to Buy Now, Pay Later (BNPL).

The move, which sees the two companies operate new brand Cash App Afterpay, will enable merchant partners offering Afterpay's Pay Overtime products to reach eligible customers from Cash App's network of 57 million monthly users.

Launched in 2013 and primarily available in the US, Cash App is a peer-to-peer (P2P) app that allows users to send, receive, and invest money from their mobile devices. Over time, the platform has expanded its services to include debit cards, saving accounts, and stock and bitcoin investing.

Founded in Australia in 2014, Afterpay is a financial tech company that offers BNPL services, offering the service in several countries including US, Canada, New Zealand and the UK.

Starting this week, Cash App customers will be able to access Afterpay's pay-over-time payment products when they shop online at partner merchant sites, with the rebranding showing a new logo at checkout.

Cash App customers will also be able to manage their pay-over-time transactions from merchant checkouts directly within the Cash App via the applet function.

Cash App’s applet function integrates its services with other applications enabling transactions and financial management, for example by linking the users' bank account or debit card to Cash App for transfers and payments.

Existing Afterpay customers will continue to receive the same payment experience by using their original Afterpay account, the company said.

Nick Molnar, global head of sales at block and co-founder of Afterpay, said the new brand seeks to accelerate the growing preference towards BNPL options in the US.

“The scale of Cash App’s 57 million monthly actives means our merchant partners benefit from a larger network of customers, and eligible customers gain greater access to simple, fair, and accessible payment options outside of traditional systems,” he added.

BNPL market is experiencing growth, with BNPL firms increasingly partnering with e-commerce platforms and financial institutions to expand their reach.

In February, FIS and Affirm announced a new partnership that will enable banks to offer Buy Now, Pay Later (BNPL) via debit cards.

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