thread Re: afterpay in Retail & eCommerce

afterpay

jhughe — Tue, 01 Feb 2022 00:56:03 GMT

great news

https://www.afterpay.com/en-AU/business/access/news/afterpay-joins-block?mkt_tok=NTM5LVJKQS02MzMAAAGCUb0Vg41KKifXYlW9ZbHTBozLGohKFcSDYqaneKuiVx3mRFX9t_-1r9urLE3cVQ7ESuvuEOk2c9PHoYUmlFgpX9Ngf9LVG-WDpthvO5DDMg

Re: afterpay

Arie — Tue, 01 Feb 2022 01:47:08 GMT

We're excited about this news, too @jhughe! Check out our FAQ here for more info.

Re: afterpay

keicollective — Wed, 02 Feb 2022 23:02:04 GMT

we're SO EXCITED!!

Re: afterpay

MH_PT — Thu, 03 Feb 2022 00:05:41 GMT

While I am excited for this option. I am surprised to see that after the trial period, which ends May 10, 2022, the fee (transaction rate) goes from 2.9 + 30¢ to "On May 11, 2022, the processing rate for Afterpay transactions will revert to a standard non-promotional processing fee of 6% + 30¢." Yikes, so really, as the retailer we are paying for the financing. Doesn't seem like much of a benefit. Or am I misunderstanding something. Does anyone else think this is a deal breaker when the trial period is done?

Re: afterpay

varrs — Thu, 03 Feb 2022 12:34:10 GMT

was also surprised at that rate. I will most likely have to take the option away when it goes to that price. I would be willing to pay more but not that much more

Re: afterpay

nell_a — Thu, 03 Feb 2022 14:32:25 GMT

@tranguyen,

Is Afterpay integration coming to the UK and if so, when?

And is Square known as Block in other countries?

https://www.clearpay.co.uk/en-GB/for-retailers/access/news/afterpay-joins-block

Re: afterpay

WhitneyMaille — Sat, 05 Feb 2022 17:28:22 GMT

That standard non-promo rate was a deal breaker for me. I already wince now when people use Paypal with it's higher fee and there's no way I'm supporting a 6% fee.

Re: afterpay

jhughe — Sun, 06 Feb 2022 02:04:23 GMT

remember you can add it to your products,but the law is changing soon when you be able to pass the fee on like you can for credit cards

Re: afterpay

jhughe — Sun, 06 Feb 2022 02:05:00 GMT

remember you can add it to your products,but the law is changing soon when you be able to pass the fee on like you can for credit cards

Re: afterpay

WhitneyMaille — Sun, 06 Feb 2022 03:21:10 GMT

I have no interest in this product at this rate. All fees and overhead are "passed on" to my customers one way or another via price increases regardless of laws surrounding overtly passing such fees on to customers. I won't raise my prices for a product that encourages customers to spend beyond their means. Thanks but no thanks.

Re: afterpay

jhughe — Sun, 06 Feb 2022 03:30:41 GMT

totally agree with you whitney, we dont encorage customers to spend beyond their thats a no win sitution for everyone. we only do what the customers and market dictate,

Re: afterpay

AVsupport — Sun, 06 Feb 2022 21:37:50 GMT

We were very excited after all the wait when Afterpay finally arrived. But 6%!! OMG this is a money grab! No thank you, we will give our customers the option to either use their credit card, or make a split payment.

Re: afterpay

pldtiedye — Tue, 08 Feb 2022 15:49:45 GMT

It looks like Afterpay is only available on purchases $50 or more, and with the addition of giving the option to buy now, pay later, I’m thinking more customers will check out with bigger orders. Very loose, easy math… I’d rather pay $6 for a $100 order (profit $94) than pay $3 for a $50 order - making your profit $47. unless I’m misunderstanding how this works?

Re: afterpay

pldtiedye — Tue, 08 Feb 2022 15:51:43 GMT

Is there a way to offer split payment on square online?

Re: afterpay

ReefPassion — Wed, 09 Feb 2022 10:15:30 GMT

I do hope so! It’s frustrating when customers ask if we can do Klarna etc on our Square website and there isn’t anything we can integrate!

Re: afterpay

jhughe — Wed, 09 Feb 2022 10:20:41 GMT

I think afterpay will be it due to the fact square own afterpay,unless you have paypal they offer bnpl not sure if that is active in square

Re: afterpay

ReefPassion — Wed, 09 Feb 2022 10:41:43 GMT

Yes sorry I didn’t mean it specifically needed to be Klarna, but it would be nice when our customers ask if we can say “no but we do have this….”. As far as I can tell (happy to be corrected on this one) PayPal can be used to take a standard card payment. But we can’t find a way to integrate their buy now pay later to our Square based website sadly. (At this point I’d take anything, as a lot of our products are equipment so on the higher end of the price scale so would help massively - we had to move away from a Woocommerce site as we couldn’t get the integration with our stock in square to work properly, but have now lost BNPL functionality.)

Re: afterpay

Speedgraphic — Thu, 17 Feb 2022 20:51:36 GMT

I can't believe that Afterpay was automatically turned on in my store. I'm not paying double the transaction fee! With Square we are already nickel and dime'd for everything it feels like...now you want to increase me transaction fees to 6% so some customers can maybe spend more than they have? I turned that off immediately!

Re: afterpay

Speedgraphic — Thu, 17 Feb 2022 20:54:19 GMT

I could not agree more. I'm very annoyed that they automatically turned it on in my store. I don't want my customers getting used to something that I have no intention of footing the bill for when the fee doubles. Hey Square, maybe stop asking for $45/mo for loyalty, plus extra money for emails....when you can't even do basic transactional emails through e-commerce! Maybe start addressing the basic holes in the suite of tools before you try to increase fees even more. SMH.

Re: afterpay

cmj167 — Thu, 17 Feb 2022 21:34:40 GMT

Assuming the customer doesn't want to pay all at once.... From what I have discovered, you have to create an invoice and manually accept a payment amount that you type in. Then the invoice will remain open with the remaining amount to be paid later.