Since the first time it was coined in 2015, Afterpay has taken the world of shopping by storm. This payment method lets us pay in installment in an easy and secure way and it is now available in more than 7,000 thousand Afterpay shops. Whether it is clothes, jewelries, books or beauty products, you can purchase anything you want and pay it in installment as long as the store supports Afterpay checkout. Now, let’s find out more about this remarkable payment method and why you should not hesitate to give it a try.
It Is More Customer Friendly than Lay-by
When hearing the word installment, it probably will somehow remind you with Lay-by. Well, it is true that just like Lay-by, you can pay for the items you want in an installment with Afterpay. However, there is something special about Afterpay that makes it more customer friendly than the first method.
With Lay-by, you will receive your goods after you have paid the full price of the product. However, with Afterpay, you can receive the product right away. You don’t have to wait for weeks to receive the product which definitely makes you want to shop with easy Afterpay payments right this instant.
Regular Payment Schedule
Paying with this method is also very convenient because it has regular payment schedule. You need to pay fortnightly and it is not negotiable. Once you have agreed to purchase the product with Afterpay, it means you also have agreed that you will pay for the installments every two weeks. Since you need to pay with debit or credit card, the payment will be automatically taken from your account on every due date.
There Is No Additional Cost
One of the drawbacks about purchasing something in installment is you, as the customer, will be burdened by some additional fees or interest. Thankfully, this is not the case with Afterpay because you only need to pay what the price tag shows. If the jeans is $70, then you need to pay $70 with $17.5 in every installment. However, you can only enjoy this privilege if you always pay on time.
If you fail to make the payment on the given time, you will be charged a $10 fee and another $7 if you still haven’t paid in seven days. To avoid this additional charge, make sure you always have enough balance in your account.
It Can Be Used for Online and Offline Shopping
Shopping online is nice and all. But every once in a while, you definitely want to shop at your favorite offline store as well, especially when you want to buy clothes or shoes and you want to make sure that the size fits you well.
Thankfully, Afterpay can be used to shop online and offline. Of course you can only use this payment method in the participating stores and the process is slightly different with online payment. So, if you want to get all the benefits of Afterpay, make sure you check whether your favorite store support this payment method or not.
No Credit Check Required
Even if you are basically making a debt by paying with this method, you don’t need to deal with the hassles of credit check. Everyone with debit and credit card can use Afterpay to shop and you can happily purchase the products you want in installment even if you have bad credit records.
However, there is still a possibility that your Afterpay payment will be refused, so don’t be surprised if it happens to you. If you have too many on-the-go orders which you still have to pay, it is possible that your Afterpay transaction will be refused. Don’t be sad, though. Once you have paid full price for some of the orders, you definitely can start shopping with Afterpay again.
You Don’t Want to Run Off with Your Debt
You pay in installments but you can take the product home right away. It is indeed very convenient for buyers and you might think what could happen if you decide to run off with your debt. Well, don’t even think about it because Afterpay has a strict policy about this.
If you read the terms and conditions of the transaction carefully, you will find out that Afterpay has the right to sell unpaid debts to third party debt collectors. It means, if you decide to enjoy the products you bought without paying the installment, you need to get ready to deal with debt collection agency disturbing you with phone calls and knocks on your door.