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.