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May 24, 2024

On the wires

May 3, 2024

On the web

March 14, 2024

On the wires

October 26, 2023

On the web

April 24, 2023

On the web

Afterpay Tweaks Late Fee Rules as Australian Lawmakers Weigh Up BNPL Regulation

Smart Company

"Locally-born buy now, pay later (BNPL) giant Afterpay has tweaked its late fee structure for purchases under $40, as lawmakers consider exposing the company and its competitors to enhanced consumer protections under Australia’s credit regulation. Afterpay this week announced its late fees for orders under $40 will be capped at 25% of total order value, replacing rules which slugged late payers with an initial $10 late fee. Under the new rules, the maximum late fee for those orders will still be $10."

February 1, 2023

On the wires

Afterpay Elevates the Next Generation of Designers at NYFW: The Shows This February

Businesswire

The leader in “Buy Now Pay Later” (BNPL) payments, Afterpay, unveils all-access experiences for its consumers as the title sponsor of New York Fashion Week: The Shows. As in previous seasons, Afterpay continues to break down barriers by opening access to the front row of what’s next in fashion, while supporting the next generation of creators and celebrating the industry’s power to create positive change.

November 22, 2022

On the web

Afterpay, Zip, React To Proposed Buy Now Pay Later Regulations

Channel News

“Afterpay and Zip have shared differing opinions on new regulatory options put forward by the Treasury will impact the buy now, pay later sector. In the Treasury’s paper, three options are offered. The first would amend the Credit Act to require that BNPL providers check that a certain product is affordable for a customer before it is offered. The second option requires BNPL providers to gain a credit licence and operate within responsible lending regulations. The third, and more strict option, would see BNPL loans enforced under the same laws as home loans, with the tighter checks this brings. Treasury is seeking consultation by December 23, with plans to legislate in 2023. Not surprisingly, Afterpay favours the first, least restrictive, option.”

October 6, 2022

On the web

Afterpay’s New Monthly Payment Solution Gives Consumers More Ways to Pay

Businesswire

“Afterpay, a leader in “Buy Now, Pay Later” payments, today introduced a new payment solution that give consumers even more choice, flexibility and time to pay, with transparent terms to support responsible spending – just in time for the busy holiday shopping season. Consumers who select Afterpay’s monthly payment option can budget their money over a six or twelve month period for purchases between $400 and $4,000 with consumer-friendly payment terms1 including: No late fees; No compounding interest with a cap on total interest owed; clear view of what is owed at time of purchase which won’t increase during the course of the payment plan.”

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