Learn about Afterpay features, benefits, and fees.

0:00 Intro
0:30 Agenda
1:03 What is Afterpay?
2:06 Why Afterpay?
3:15 Afterpay fees
4:02 Enable/disable Afterpay
4:28 Afterpay FAQ

Transcript

Afterpay is a digital Buy Now, Pay Later wallet that allows buyers to pay for orders between $50 to $2,000 in four interest-free payments. If a cart total is outside of this range, Afterpay won’t show as a payment option during checkout.

With Afterpay enabled on your website, customers will be able to select Afterpay as their payment option during checkout — they’ll just need to sign in to Afterpay to complete their order. All installment payments are interest-free. At the time of purchase, you’ll get paid the full amount minus the Afterpay processing fees.

Afterpay doesn’t require external credit checks from your customers or charge application fees, so signing up and making purchases won't hurt their credit score. If your customers have any questions about their Afterpay payments, they should contact Afterpay through the Afterpay app or on afterpay.com/help.
Why use Afterpay?
Here are a few of the most exciting reasons to use Afterpay for your business:
Drive Incremental Sales:
Sellers see a 20% increase in cart conversion on average and more repeat customers when they offer Afterpay as a payment option.
Increase Average Order Value:
Afterpay lets customers get what they want,when they want it, increasing the average order value by up to 40%. Afterpay customers also have Lower return rates.
Attract New Customers
Merchants find that 30% or more of customers who use Afterpay are new to their brand. You'll also gain access to a large and growing segment of shoppers who prefer not to incur credit card debt or interest, or who wouldn’t have been able to afford a purchase without an installment option.
Access funds fast
The full payment, minus the transaction fee, is deposited and available to you almost instantly, just like other Square payments.
What is the processing fee for Afterpay?
Sales made using Afterpay carry a 6% + 30¢ processing fee on the total purchase. There are no processing fees charged on the remaining installments, and no other monthly fees or activation costs. This fee is the standard buy now, pay later rate that Afterpay charges all merchants.

How do I disable or enable Afterpay?

Eligible Square Online Sellers will have Afterpay automatically enabled as a payment option on their Square website. However, you can turn this feature on and off at any time. Enabling and disabling the Afterpay payment option on your Square Online site is simple:

1. Sign in to your Square Dashboard.
2. Select Online to open the Square Online Overview page.
3. If you have a single website, select Settings then Checkout. If you have multiple websites, select Shared Settings then Checkout.
4. Toggle the Afterpay option on or off depending on your preference.
Now let’s answer some frequently asked questions about Afterpay.

How do I manage refunds for orders paid with Afterpay?
You can refund orders through the Order manager in your Square Online Overview page just like any other order. Your customers will receive an email from Afterpay confirming the details of the refund. However, a refund can only be processed for a payment taken within the last 120 days.

What are the risks of using Afterpay?
The platform is set up so Afterpay takes on the risk of fraud for you so you can focus on growing your business.
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