Market coverage 4
["Australia","Canada","New Zealand","United States of America"]
- New Zealand
- United States of America
- Australia Dollar
- Canada Dollar
- New Zealand Dollar
- United States Dollar
Afterpay is a payment method that allows consumers to pay for their online purchases in multiple equal installments, with no interest or additional fees. The Australian company was founded in 2015 and is now available in several countries, including the United States, the United Kingdom, Australia, New Zealand, and Canada.
Here’s how Afterpay works: during checkout, the consumer selects Afterpay as the payment method and provides information about their credit or debit card. They then pay the first installment, which is typically about a quarter of the total order price, and subsequent installments are automatically deducted from their card at regular intervals, usually every two weeks.
It’s important to note that if payments are made on time, there are no additional fees or interest charges. However, if a consumer is unable to make a payment, Afterpay may charge late fees. Additionally, some businesses may have different policies regarding returns and refunds when Afterpay is used as the payment method.
Afterpay is becoming increasingly popular because it allows consumers to spread the cost of a significant purchase over several payments, which can make it easier to access certain products. However, it’s important to understand the terms and conditions of using Afterpay before using it to avoid additional fees.