How does Afterpay benefit a business

1. How does Afterpay benefit a business? diigo.com/item/note/7zvqo/om3x from web site Edit Delete Share Afterpay, allows customers to pay for their purchases in four, fortnightly installments. When a retailer offers Afterpay, they will receive a payment within 24 hours. An interest- free period makes it similar to a modern-day credit card. While Afterpay has been touted as a promising tech platform that caters to millennials who eat avocado smashed up (cue Spaceship), it is no different from previous fintech platforms. This practice is known as 'factoring,' in which a business sells its receivables to a lender in exchange for a commission B2B companies, factoring is typically used for companies with large debtors. Afterpay brings factoring to consumers (B2C). Afterpay is available on many of the products such as sofa afterpay. Afterpay : how does it work for retailers? 1/4

2. Retailers will find the Afterpay sign up process quick and straightforward. After you fill out the enquiry form, a customer service representative will contact you to discuss your needs with Afterpay. Afterpay is available both online and in-store - on products like washing machine afterpay, so you can choose how it suits you best. Afterpay is an online payment option that allows customers to purchase an item online and Afterpay will settle with you as soon as the item has been received. Since Afterpay will pay the debt that is owed to you initially, the installments that the customer pays go to Afterpay instead of to you. Benefits of Afterpay in a business With an Afterpay merchant agreement, your business can benefit from the following features: Set installments for customers. Potential customers can easily decide whether or not to purchase items by knowing the installment amounts and frequency of payments. New customers. With Afterpay, you can benefit from increased sales and an increased customer base. Rise in repeat purchases. 2/4

3. Repeat customers are more likely to purchase from your business, plus they are more likely to spend more per transaction. Payment upfront. Afterpay settles with their merchants automatically and quickly once the customer receives the item. The payment process is straightforward, and there are no long wait times or complicated procedures. Name recognition. With over 1,400 retailers in the US using Afterpay, it's easy to see that it is a favorite among consumers across all industries. If you integrate Afterpay into your business, you can benefit from this recognition. Zero fraud or credit risk. The importance of this cannot be overstated. Afterpay assumes all non-payment risks associated with each transaction, even though it might seem high-risk at first glance. With this, your business is off the hook. No longer do you have to chase down customers who have defaulted on their payments. How does Afterpay offer interest-free payment plans to shoppers? 3/4

4. You may have some questions about how Afterpay for your customers works now that you know it exists. Customers use Afterpay to purchase items from your store (online or in a physical location) and pay them back later. The first payment is taken at the time of the initial purchase, with four payments spread over eight weeks. Until they have paid off their installment, they will be charged late fees if they do not adhere to the payment schedule. The client is responsible for the installments reflected on the website for the eight weeks, which are interest free. For more details connect us on: Whipper snipper afterpay Afterpay outdoor furniture 4/4