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Afterpay review: interest-free payments on online purchases

Afterpay works like a loan, but with zero interest, no extra costs and a whole lot more.


You might have already seen Afterpay as a payment option in stores and online. If you haven’t, you probably will soon. Afterpay is simple. When you buy something, simply select Afterpay as your payment method. Then you’ll have several weeks to pay the amount back in four installments, at no extra cost.

It’s already fully integrated in a number of stores so that you can buy now and pay later without paying a cent more than the price of whatever you’re buying.

How does Afterpay work?

You can start shopping with Afterpay by simply signing up and linking your debit or credit card. There’s no paperwork or complicated approvals process. All you have to do is sign up and confirm your details and you’re good to go. Simply select Afterpay as your payment option at checkout.

At the time of purchase, you’ll need to pay the first quarter of the total amount, with the remaining three quarters paid back every two weeks after that. You’ll receive reminders before payments are due and they’ll be processed automatically when the time comes so that you don’t have to worry about it.

In order to make sure the service is free to use for everyone, the amount you can spend at any one time is subject to approval. Approval is based on a variety of factors, including the number of unpaid Afterpay accounts you have and your history paying off your Afterpay accounts.

See the full Afterpay store list here

Features of shopping with Afterpay

  • No extra cost. It works like a no-interest loan. You have a lot longer to pay and you don’t have to pay a cent more than the actual cost of the item.
  • Borrow what you need. Short on cash while shopping? Choose to pay for only part of the purchase yourself and use Afterpay for the rest.
  • Immediate use. If you’re reading this on your phone, you could spend a minute signing up right now and start using Afterpay right away.
  • Manage your account. Sign in to see your upcoming payments, orders and account information.
  • Reminders. You’ll be notified ahead of time when a payment is coming up and how much it is so that you can make sure there’s enough money in your account.
  • Automatic deductions. Each quarter amount is automatically deducted from your chosen card to make sure you can keep up with your repayments, even if you’re busy or you can’t get online.
  • Refunds and more. Changed your mind? You can still get a refund for purchases you’ve made with Afterpay, in line with each store’s refunds policy.
  • Pay in advance. You can pay installments ahead of time to get them off your plate, once again at no extra cost.
  • Market-leading security. Afterpay uses an extremely high level of security for both your card details and your personal information.

How much does Afterpay cost?

Afterpay is a free service. There are only two costs involved and one of them is the cost of the item you’re buying. The other is a late fee for missed installments.

If a payment is unsuccessful, you will be notified and you will have a chance to log in and choose a different payment method. If you don’t pay by 11 PM EST the next day, you’ll be charged an $8 late fee. If you fail to make a payment within seven days you’ll be charged another $8 fee. Late fees are capped at $8 or 25% of the purchase value, whichever is less. You can also change payment methods at any time, or even have multiple payment options to make sure you’re always able to keep up and keep using the Afterpay service.

If you fail to make repayments, Afterpay could report it to a credit reporting bureau, which may affect your credit score.

Is Afterpay safe?

Afterpay is touted as a new way to pay and different from traditional credit products, but it is important to remember that Afterpay is still a type of credit. Afterpay may report defaults to credit reporting bureaus such as Experian or Equifax. You need to keep this mind before you apply.

In terms of your information, Afterpay is a PCI DSS Level 1 certified compliant Service Provider organization. This means that it abides by the comprehensive set of requirements to keep your data secure.

How to sign up for Afterpay

In order to sign up you have to:

  • Be at least 18 years old and capable of entering into a legally binding contract (19 in the state of Alabama)
  • Have a valid and verifiable email address and mobile number
  • Have a credit or debit card

And that’s it! Afterpay is not a store credit application. You don’t have to sign anything or fill out an application form. All you have to do make sure you’ve read the details, signed up online and you’re good to go.

Have more questions about Afterpay?

Image: Afterpay

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8 Responses

    Default Gravatar
    AvenAugust 2, 2019

    So if I pay for something with Afterpay like shoes from will the shoes will be delivered before after or during I start my payment installments??

      Avatarfinder Customer Care
      nikkiangcoAugust 2, 2019Staff

      Hi Aven,

      Thanks for your question. When you make a purchase at a website where it has Afterpay, your item will be processed and sent for delivery on the promised delivery date as shown on the website after checkout. The schedule of your Afterpay payments won’t affect the delivery time of your item.

      Hope this helps and enjoy your purchase!


    Default Gravatar
    JacquilynJuly 24, 2019

    I just used AfterPay. Will it be on my credit score?

      Avatarfinder Customer Care
      BellaJuly 25, 2019Staff

      Hi Jacquilyn,

      Thanks for your inquiry.

      As I checked, if you fail to make repayments, Afterpay could report it to a credit reporting bureau, which may affect your credit score.

      I hope this helps.

      Kind regards,

    Default Gravatar
    StormJune 25, 2019

    Does Afterpay charge payments monthly?

      Avatarfinder Customer Care
      nikkiangcoJune 26, 2019Staff

      Hi Storm,

      Thanks for your inquiry.

      When using Afterpay, stores are allowing a purchase to be paid for in four equal instalments, due every 2 weeks. At any time, you can log in to your Afterpay account to see your payment schedule and make a payment before the due date. Given this Afterpay doesn’t have monthly payments at the moment.

      Hope this was helpful. Should you need any clarifications, feel free to message back and we can advise you accordingly.


    Default Gravatar
    SamApril 29, 2019

    When using Afterpay, how soon do you receive your purchase?

      Avatarfinder Customer Care
      MaiApril 30, 2019Staff

      Hi Sam,

      Thank you for reaching out to Finder.

      You should receive your item depending on the specified delivery time frame of the seller whom you purchased your items. When you do your purchase, you can check the delivery information so you know when you are expecting to receive your order.

      Hope this helps! 😊

      Kind Regards,

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