AfterPay – from Arvato Financial Solutions, soon-to-be Riverty – lets consumers and partners live their best financial lives. Their BNPL products are available in nine markets in Europe and consist of five payment services: the 14-day Invoice, Campaign Invoice, Consolidated Invoice, Fixed Instalments, AfterPay Flex, and soon-to-be-launched Split in 3.
How the payment method works
Consumers select AfterPay to pay when shopping online. The payment is then due after receipt of the order. Quick, easy, and safe. The payment term depends on the service that the customer has selected. For connected merchants, AfterPay is a marketing, loyalty, and payments tool in one. It means more orders and more revenue. Orders are always paid out.
Target market
Merchants: fashion, sports, home decor, home improvement (DYI), beauty pharmaceuticals, pet accessories and food, electronics, parking, public transportation, travel, other retail
Contact details
support@afterpay.nl
Operational area
Central and Northern Europe – Germany, The Netherlands, Sweden, Belgium, Austria, Switzerland, Norway, Finland, and Denmark
Year founded
2010
Reach
Over 100 million consumers across the nine markets.
Acceptance
More than 5,000 merchants in Europe
Market share
NL: 34% of shoppers have used a PAD solution in the past 6 months (and 18% of all online purchases are made using PAD). 48% of shoppers express an explicit PAD related need.
DE: 31% of shoppers have used a PAD solution in the past 6 months (and 10% of all online purchases are made using PAD). 53% of shoppers express an explicit PAD related need.
Implementation requirements (non technical)
Direct integration or integration via PSP/ ecommerce platform
Company's motto
Shop now, pay later
Payment type
Buy Now, Pay Later/Instalments/Pay by invoice
Yes
Business model: Consumers complete their purchase, while not yet paying for the goods – this can be done later when the consumer is certain to retain the products. AfterPay then sends the payment instructions to the consumer, who can pay via the consumer portal/APP or via classical bank transfer. Consumers also have the flexibility to pause a payment, convert it to an instalment plan, or split payments.
Payment instruments used: No card needed to start instalment plan. Independent risk scoring.
Credit check: Yes
Credit application: Yes, using local standards
Late fees: Dependent on country, order value and step of dunning. Starting at EUR 2,50.
Interest rates: Starting at 0%
Channels
Online
POS/In-store
Omnichannel
Services
Settlement currencies
Like for like (EUR, NOK, SEK, DKK, CHF)
Processing currencies
Local currency (EUR, NOK, SEK, DKK, CHF)
Currency available for customers
Local currency
Implementation requirements
Direct integration or integration via PSPs/ ecommerce platform
Chargeback/Buyer protection
AfterPay does not enforce a strict buyer protection policy. Instead, we act as a moderator and ensure a good experience for all parties involved.
Reconciliation
With each settlement, a reconciliation file is created that includes all references needed for an automated reconciliation process. The reconciliation can also be done via selected partners.
Fraud prevention (measures)/Risk management
AfterPay takes over the full risk of a transaction – both from a credit risk and from a fraud risk. Deeply integrated risk services can be applied.
Pricing/Fees structure
Per-transaction processing fee (fixed amount) plus processing fee (variable amount on the basket amount before or after returns). No setup fee.
Integration technology
Direct integration via a server to server API (JSON REST) or via partners (PSPs/ecommerce platforms)
Integration support
Dedicated integration manager as SPOC
https://documents.afterpay.io/guidelines/Technical_White_Paper.pdf