What is Afterpay?
In simple terms, Afterpay offers a 'buy now, pay later' service allowing customers to make purchases at the same price and pay for them over four equal fortnightly instalments. For example, if you purchase a Lo one piece for $165 AUD, you pay four instalments of $41.25.
Unlike other payment products, Afterpay does not require customers to enter into a loan or credit facility or pay any upfront fees or interest to Afterpay.
There are no extra charges as long as the customer makes payments in accordance with their payment schedule.