Put simply, Afterpay allows your customers to get what they want now, and pay for it in 4 instalments over 6 weeks, interest-free. It is free and simple to sign up - requiring some personal information, a linked debit or credit card, and a credit check applies for New Zealand customers.
How customers use Afterpay
Shopping online:Customers shop on at merchants website.
At checkout, they choose Afterpay as their payment method.
First-time customers create an Afterpay account with an instant approval decision, and returning customers simply log in to complete their purchase.
Customers pay the first instalment at the time of purchase, and the retailer ships the goods after checkout, just like any other online purchase.
Shopping in-store:Customers download the Afterpay app and follow the instructions to set up their digital Afterpay Card.
Afterpay Card works with Apple Pay, Google Pay, or Samsung Pay for contactless in-person payments.
Customers pay the first instalment at the time of purchase and take their items home the same day.
Managing payments
After placing their order, customers receive a confirmation email with a breakdown of their payment schedule, helping them track their instalments.
Payments are automatically deducted from the customers preferred payment method on the scheduled due dates.
Customers can log in to their Afterpay account anytime to view their payment schedule, or make early payments.
Responsible spending
Afterpay doesn’t approve every order,. Order Approvals are based on a number of factors including:
The customer’s available funds for the first instalment; and
The length of time they’ve used Afterpay; and
Their on-time payment history; and
The total value of their current order and any existing unpaid orders.
These checks help Afterpay customers responsibly spending and maintain trust with customers and merchants alike. As customers build a positive on-time payment history, they may be eligible to spend more with Afterpay over time.