How to become an Afterpay merchant!
Afterpay is a payment type, and in its class, it is the most popular Pay Now Buy Later product in Australia. Currently, about 3.6 million users in Australia; check for more details here. It is great for my clients that rather than use laybys, it is better to use Afterpay as you get your money now, with no hassles. If you are doing laybys, I recommend you try to switch to Afterpay. It's the one that my clients report the greatest success in using.
Because of its interest, I get repeatably asked about integrating it into our POS Software.
It does not need integration as your EFTPOS machine can do it. However you will then need to get Afterpay permission to become an Afterpay approved merchant. If you are interested, you need to go here and provide details like your EFTPOS terminal details. Once accepted, which does not take long, you get the ability to accept Afterpay. Your funds are settled like any other card payment.
Point to consider:
) Lots of people use it
) Afterpay does direct customers to your shop
) You will need to accept Paywave Mastercard with its costs.
) It is very hard to pass on Afterpay fees to your clients.
) If you do not use it, there is no cost, so you can keep it for emergency although the Paywave is a problem. As it needs to be activated.
We do have a product baring system that you will need to help handle the following:
) Fees are fairly high so there are a few low-cost items that you will not want to go through.
) Some products Afterpay will not let you trade through them.
Clients of ours doing this have reported that it is straightforward to use and does fulfil a need for their consumers.