You can set up Afterpay, a post-payment service, in your Shop settings. Afterpay is a service that splits the cost of an order into four equal parts, letting a customer pay in four interest-free payments that are due every two weeks. While customers pay in installments, you receive the amount upfront and in full.
Set up Afterpay
To enableAfterpay as a payment method in your Shop App:
- Register an Afterpay retailer account and wait until it is verified.
- Navigate to your Shop App dashboard, and select Payment on the left-hand sidebar.
- On the Payments dashboard, scroll down until you see More options to accept online payments in the United States. Click on the Choose Payment Method menu, and select Afterpay.
- Afterpay will then appear as an option under Current payment methods. Click the Account Settings button to get started with connecting Afterpay.
- Enter your Afterpay credentials: Merchant ID and Secret Key.
You can obtain your Afterpay credentials in the Settings > Integrations section of your Afterpay account. If you do not see your merchant account credentials there, contact your account manager at Afterpay or Afterpay support team for assistance.
- Enter the display name for this payment method at checkout (this name will appear in order details, too) or keep the suggested name:
- Keep the Enable this payment method at checkout toggle "On" to offer this payment method to your customers at checkout.
- Edit or use the suggested instructions on how to pay via this payment method in your store. Customers will see it at checkout after choosing this payment method for their order:
- Click Save at the top of the page.
Paying in installments is available to orders that fall in the $30 – $1,000 range. Afterpay splits the order total (the sum of the product price, shipping cost, taxes, etc) into four equal parts that can be paid off by buyers over time, free of interest.
The option to use Afterpay will automatically appear for any product that has a listed price between $30 and $1,000.
When the buyer proceeds to the checkout, the installments are recalculated to factor in the updated order cost if it’s changed due to shipping costs, applied discounts, taxes, etc.
In case a product price is lower than $30 but the order total is higher (due to the shipping cost, for instance), the Afterpay post-payment offer will not be displayed on the product page but it will still be offered for such order as a payment method at checkout.
To pay for their order in installments, first-time buyers will be directed to the Afterpay website to register and provide credit card details. If they’ve used Afterpay before, then they just need to log in to Afterpay and complete their purchase.
Buyers will pay the first installment during checkout, and will need to pay the other three parts every 2 weeks. Buyers can check their payment schedule in their Afterpay account dashboard at any time.
You as a merchant receive the full amount from Afterpay the day after the order is placed.
|How are Afterpay Installments Calculated?||Afterpay checks if the order is between $30 – $1000, then it breaks the order cost into four equal parts. The order cost is the total sum of the product price, shipping costs, and tax rates. If the order total changes during the shopping process, the installment payments are recalculated by Afterpay at checkout.|
|What orders qualify for Afterpay Financing?||
Buyers’ cart value must be between $30 – $1000 to qualify for installments by Afterpay. Besides, before giving an instant approve to a buyer, Afterpay considers various factors, e.g. if it is a new or repeat user of Afterpay service, whether there are sufficient funds for the first installment amount on their credit card, how many “open” orders they have with Afterpay, etc.
|What other financing options can I use with my Shop App?||You can also use PayPal Credit to offer financing to your customers.|