AfterPay - Top 1 Digital Buy Now & Pay Later Platform

AfterPay otherwise known as Clearplay in the EU is a payment method that allows customers to make a purchase of goods now and pay later.

AfterPay is an Australian-based company that assists shoppers to purchase more goods as their can and make Payments later on (Installment).

They offer delayed payment for purchases without the hassle of applying for a credit card.

We are here to take you through some important aspects of The company’s services, its features, how to use it and your eligibility. You can read this article to discover more about these personally.

How AfterPay Works

AfterPay is an online or digital payment method available for online shoppers to make purchases now and complete their Payments later on.

You can purchase now and make the Payment weekly until you complete the payment on the items you purchased. Whereas there’s no need for a credit check to use AfterPay and most interestingly, there’s no interest rate charge for the service.

Customers can register for an account free of charge at AfterPya’s official website, shop at select retailers, and finally, use it to make purchases.

Countries Supported by AfterPay

The company supports just a few countries across the globe as listed below

Australia
Canada
France
New Zealand
Spain
United Kingdom
United States

AfterPay Requirements & Eligibility

If you wish to enjoy the features and services of the company, you are entitled to meet these requirements for you to be able to create an account on the platform.

The customer pays 25% of the total cost upfront
Customers may pay in four instalments every two weeks until the entire purchase is paid off
The customer must be 18 years of age or older, and be the authorized holder of an eligible debit or credit card
Purchases need to be over $35

AfterPay Late Payment Penalty

One thing triggers fear in the mind of their customers is the late payment fees. If you miss a Payment or you ran into a problem making the Payment (unsuccessful) Payment, you will be charged a late payment fee of $8.

And if you fail to make the Payment after seven consecutive days, an additional $8 fee will still be charged to you.

This way, these fees will continue to increase at weekly intervals thereby increasing your debt and if this happens some a long period of time, your AfterPay account will be frozen until you clear the debt. That is until you pay off the purchase and fees.

Risks in Using AfterPay

No doubt The company play important role in assisting its customer’s purchasing items that they are in need of if they don’t have enough cash to buy the item at the moment. They make online purchase Payment easy and convenient but there are risks involved in the use of the platform

But it’s important you strictly use the platform with caution. Meanwhile, breaking up Payment for a large purchase can be easier on your bank account, but it can also lead to overspending.

Online Payment platforms like this company make it woefully easy for you to purchase more than you can afford thereby leading you to increase your debt.

However, if you decide to use it, below are some tips that will assist you to shop responsibly.

Plan your budget – use the actual amount meant particularly for online shopping that you can easily refund in a set frame.

Recommended post:

Link your debit card in place of your credit card – if your credit card is linked to your AfterPay account and it happens you miss a payment and you linked your credit card it will increase the AfterPay late fee as well as interest on your credit card.

So the best thing to do is link your debit card to your AfterPay account at the initial time.

Set up reminders for payment – once you make a purchase using your AfterPay account, set up a reminder to avoid missing a Payment.

Meanwhile, for someone that can make an early payment, this company is recommendable since you can manage your debt by using the platform wisely.

If you find this article helpful or you have any questions for us, you can do so in the comment section below.

Frequently Asked Questions on AfterPay.

What can I use AfterPay for?