Afterpay Story
Founded five years ago in Sydney, Australia, Afterpay has millions of global customers and tens of thousands merchant partners now using the platform globally across Australia and New Zealand. Afterpay’s global team is currently made up of more than 700 people and growing. Afterpay’s business model is completely free for customers who pay on time – helping people spend responsibly without incurring interest, fees or extended debt. Afterpay empowers customers to access the things they want and need, while still allowing them to maintain financial wellness and control, by splitting payments in four, for both online and in-store purchases.
Afterpay is deeply committed to delivering positive outcomes for customers. The majority of Afterpay’s income is derived from merchants, rather than customers. If a customer misses a payment, they won’t be able to use Afterpay until the payments are up-to-date. Late payment fees are charged but are fixed, capped and do not accumulate over time. Customers are never entrapped in revolving debt and never incur interest. We are focused on supporting our community of shoppers. We trust in the next generation and share a vision of a more accessible and sustainable world in which people are rewarded for doing the right thing. Afterpay’s mission is to power an economy in which everyone wins.
— Afterpay | Our story | from https://corporate.afterpay.com/about/our-story
Split your purchase into 4 instalments
Pay for your purchase over 4 instalments, due every two weeks. You’ll pay your first installment at the time of purchase, and the remainder over time.
No fees when you pay on time
With interest-free instalments, the only fees are for late payments. You can find your payment schedule in the Afterpay app and we’ll send you regular reminders.
Enjoy instant approval decision
You’ll know you’ve been approved within seconds. Orders ship as they would with any other form of payment, as quickly as you choose.
Available in Australia and New Zealand
Clearpay is called Afterpay in Australia & New Zealand
Afterpay is part of the Clearpay global family and provides buy now, pay later services in Australia and New Zealand. You will see Afterpay when checking out in these countries.
Afterpay New Zealand | Terms of Service
HIGHLIGHTS:
- Afterpay allows you to pay for your purchase over 4 instalments due every 2 weeks. In some cases, Afterpay may require you to make a payment at the time of purchase.
- You must be over 18 years old and be the authorised holder of an eligible debit/credit card to apply (see clause 2.4 for eligibility criteria).
- All orders are subject to Afterpay’s approval – for example, if you have any overdue payments, Afterpay will not be available to you. For more information on assessment and checks, see clause 6.2
- As part of our approval process, we may conduct a pre-authorisation on your nominated card, up to an amount of your first instalment – see clause 6.2(f)
- You can make repayments to Afterpay any time BEFORE the due date. Otherwise, Afterpay will automatically process payments on the scheduled dates from your card. If a payment is not processed on or before the due date, late fees will apply – initial $10 late fee, and a further $7 if the payment remains unpaid 7 days after the due date.
- For each order below $40, a maximum of one $10 late fee may be applied per order. For each order of $40 or above, the total of the late fees that may be applied are capped at 25% of the original order value or $68, whichever is less. See Schedule 1.
- If you won’t be able to pay us on time, please contact us as soon as possible.
- The delivery/quality of goods and all refunds are the responsibility of the retailer where you make the purchase.
- If you decide to purchase goods from an authorised Retailer from outside of New Zealand, we draw your attention to clause 4.5 of these terms and more…
Full text: https://www.afterpay.com/en-NZ/terms-of-service-webview