The truth about Afterpay.
Get to know Afterpay and how we really work.
Get to know Afterpay and
how we really work.
Say no to revolving debt.
Afterpay is about enabling people to get what they want and need without the risk of long-term debt. Here’s how we protect customers:
Afterpay in numbers.
$600
That’s where our spend limits start for new customers; low. They only increase with proven on-time payment behaviour.
$150
The average amount spent per Afterpay order.
$305
^
That’s the average Afterpay outstanding balance in Australia. By comparison, the average outstanding credit card balance in Australia is $3,039*.
98%
The amount of Afterpay orders that don’t incur a late fee.
37
Afterpay’s main customer is a 37 year-old.
One-third of our customers use Afterpay for health and wellbeing services, including dental and salon services.
4.8
That’s our Trustpilot score. Can your bank say the same?
348K
Afterpay active sellers across NZ, AU, USA, UK and CA (and growing).^
Did you know?
Afterpay does not affect your credit score.
Afterpay does not affect your credit score or credit rating, full stop. We don’t believe that missing a payment with Afterpay should result in a bad credit history. Our main aim is to help you spend responsibly, and we take a number of steps to help ensure this, including pausing your account when you miss a payment. We have also started working with credit bureau Centrix as part of their new PayWatch initiative for the Buy Now Pay Later industry, which is designed to protect customers from taking on additional Buy Now Pay Later debt when they may be struggling with existing debts.
We use an approval process.
We apply an approval process for individual purchases. Our approval process takes a number of factors into account, including whether there are sufficient funds in your account (particularly for new customers), and how much you will have to pay on the purchase. We carry out this process on every order you make with Afterpay, not just the first one.
Spend limits start low.
Our spend limits for new customers start low, at around $600, and may increase gradually over time with consistent on-time payments.
If you’re a new Afterpay customer, the amount you can spend will be lower than if you’ve been responsibly using Afterpay for a long time. We take the time to get to know you, and before each transaction, we assess your ability to make payments on your instalment plan.
Just as there are circumstances which may lower the amount you can spend (such as missing a payment), consistent on-time payment history can increase what you can spend with Afterpay.
Typically, the longer you’ve been using your account and making payments on time, the more likely the amount you can spend will increase.
We don’t charge annual fees or interest to use Afterpay BNPL. We charge a fee to merchants for each transaction; this is the main way we make money. Once you’ve been a customer for 6 months, you can also upgrade to Afterpay Plus for $9.99 a month to use Afterpay almost anywhere. Eligibility criteria, fees and T&Cs apply.
It takes a couple of minutes to sign up.
Setting up an Afterpay account is simple. To get the best experience, download the Afterpay app or go to our website to sign up, or alternatively apply during the checkout process at participating online retailers. You must be over the age of 18 and provide some personal information, and link a valid debit or credit card#.
*Credit & Charge Card balances - Dec 2023 RBA | Active Credit Cards - Dec ‘23 RBA.
^Afterpay AU balances as at Dec 2023.
Afterpay figures: Afterpay internal data Q4 2023
#Eligibility criteria, capped late fees and T&Cs apply. Please see afterpay.com for full terms.