We have all been at that place where money in the account is scarce but we come across a sale at our favourite shop. Afterpay lets you buy what you want then pay it off in four installments. The installments are interest free and are spread in intervals of 2 weeks. The range of permitted purchases is $50 to $1,000. However, Apple products and gift cards are not covered.
The process is quite simple:
• Create a profile on Afterpay
• Enter details of your Australian credit or debit card to be used for the fortnightly installments. Visa and MasterCard are supported.
• Buy your items and head to checkout.
• Make payment:
Online- select Afterpay at checkout
In-store- visit their mobile website, enter the total value of items purchased to get a barcode that can be scanned by the person at the cash register. This feature is currently only available in select stores in Australia
• Afterpay quickly looks over the application then moves you to checkout after approval
• Check on your Afterpay account profile regularly to stay up to date on reminders, orders and installments
There is a late fee charged on late remittance of installments. Purchases valued over $500 require the buyer to pay the first installment when making the purchase. All this information is communicated beforehand. There are no hidden charges.
The list of shops offering Afterpay worldwide is ever expanding. The shops span across all categories. Here is a preview of the new Afterpay shops in Australia:
>Lululemon >Mollini >Boohoo >Nasty Gal
>Pay Day Deals
Afterpay shops currently offering discounts include Harrods, Booktopia, Fossil and HP.
Are short on cash and need a top up to make a purchase? Do you want a refund after you return an item to a shop (in line with their policies)? Do you want to make purchases in a secure way in affordable installments? Think Afterpay.
You will however have to be an adult capable of voluntary entry into a contract that is legally binding as well as have a verifiable email address and an Australian credit/ debit card.