Afterpay

Afterpay: buy now, pay later integrated into U.S. retailers

Afterpay is a deferred payment service that operates as a payment method within partner retailers. Customers shop as usual and, at checkout, select Afterpay; new users complete a quick registration and returning users simply log in. The offering is supported by a mobile app where users can access participating brands and manage payments.

Available payment options

The service allows you to pay in four interest-free installments or spread the amount over 3, 6, 12, or 24 months at partner brands. The company states that it does not charge late fees when payments are made on time and that it sends reminders, in addition to capping late payments. A finance fee may apply to certain transactions; in those cases, the example published by the company shows a 36% APR for a $110 loan, with a down payment of $27.50 and three biweekly payments of $28.26.

In-store and online shopping

Afterpay is available both on e-commerce sites and in physical stores. The website allows you to find nearby stores that accept this payment method. Integration with retailers is seamless, so users do not need to leave the usual checkout process to use the service.

Mobile app and editorial content

The Afterpay app brings together deals, brands, and editorial picks. The company highlights that it has over 700,000 five-star reviews in the app stores. In addition, the site includes a content section where its editors round up products and new arrivals.

Discount for new users

The page promotes a $15 discount for new customers, without detailing the full terms of the offer in the material.

Development within the Block group

Afterpay is part of Block, Inc., a group that also includes Square, Cash App, TIDAL, Bitkey, Proto, and Spiral. Block presents itself as a technology company focused on expanding access to the global economy. The U.S. entity providing the service is Afterpay US Services, LLC, with NMLS ID 1870854. Loans with a finance fee are underwritten and issued by First Electronic Bank. For California residents, pay-in-4 loans without a finance fee are made or arranged pursuant to a California Finance Lenders Law license.

Requirements and terms of use

To use Afterpay, you must be at least 18 years old, reside in the United States, and meet additional eligibility criteria. The payment amounts shown are estimates that depend on eligibility and exclude taxes and shipping charges, which are added at checkout. Late fees may apply and, in certain transactions, a finance fee.