What Is Afterpay?
Afterpay is the credit card alternative that helps shoppers budget while enabling them to buy more of what they love, more often. Afterpay’s model is simple and transparent: you, the retailer, get paid right away while your customers pay for their purchases in four equal installments. The first payment is made at the time of transaction while the remaining three are due every two weeks thereafter. Think of it as evolved lay-by.
Why Retailers Love Afterpay
- Guaranteed up-front payment: Afterpay pays retailers up front—quickly and automatically. No complicated processes or lengthy wait times.
- More traffic: Tap into an audience of more than 2.6 million active users in Australia and New Zealand. An average of 4.5 million visits per month originates from Afterpay’s Shop Directory.
- More conversions: Afterpay empowers customers to budget, helping with purchases that may otherwise seem unattainable.
- Higher engagement: Afterpay customers come back more often, bringing higher lifetime value and loyalty.
- Zero fraud or credit risk: Afterpay assumes all end-customer non-payment risk for every single transaction.
Cin7 and Afterpay
Because Cin7 is an Afterpay certified partner, integrating Afterpay into your POS fast and easy. Australian and New Zealand brick-and-mortar retailers who use Cin7’s POS module and sign up with Afterpay can accept payments from shoppers who use the Afterpay app. Afterpay transfers money to the retailer at the time of purchase, minus a fee the retailer pays to use the service.
The Benefits of Cin7 with Afterpay
- Improve your customer experience
- Increase customer loyalty
- Get paid up front, fast
- Move inventory faster