I am not being paid to promote Afterpay, but as a person who has been burnt by credit cards and other payment options I love afterpay.
If you have never heard of Afterpay it’s an Aussie concept from Melbourne. Essentially it’s a cross between a credit card and layby.
If you’re a person who has bad credit or you don’t want to outlay a large purchase upfront then Afterpay is something you should consider.
How it works for consumers is you start off with $200 credit, no credit checks, you get a $200 first time limit and you pay four equal payments per fortnight. We pay ourselves fortnightly so its works with us.
You down load the app and you will be given a code which you provide to the product provider. You will pay the first installment there and then and each fortnight you will pay the rest in fortnightly equal installments.
You start off with $200 limit and when you pay the products off this limit may increase up to $1500 and the consumer takes the products straight away.
For the product provider you will receive the payment straightaway less 4-6 % which is a referral type thing similar to most payment and credit providers. As a product provider this is great as you still have a margin to play with and the consumer gets the products.
How the initiative works is Afterpay takes the risk. It’s taken out of your hands and everyone has the opportunity to use it, People with poor credit, bankruptee’s everyone.
If you are thinking about selling a product and service consider Afterpay it’s brilliant.