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# 222627 21-Aug-2017 12:29
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http://newsroom.trademe.co.nz/articles/introducing-afterpay/

 

We’re stoked to announce that we’re teaming up with Afterpay to bring an awesome new way to pay for goods on Trade Me. Afterpay is a ‘buy now, pay later’ company that will allows online buyers to buy something and receive it immediately then pay for it in four fortnightly interest-free instalments.

 

Is it just me that thinks this is a bad idea? Good for sellers though.


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  # 1849765 21-Aug-2017 12:29
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Hmmmm. Here we go.





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  # 1849790 21-Aug-2017 13:13
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They're a bit coy on the fee - but looks like whatever it is rests with the seller.

 

This makes me wonder - many sellers were against the 2% fee for credit cards, so if it ends up being more like 5-10% then who would enable Afterpay on their listings?

 

On the flipside, if it's easy and free to the buyer, then why wouldn't you use Afterpay all of the time, even when you've got the money, and put the money in a savings account or similar - the same as taking advantage of the interest free period on your credit card. This just adds to the sellers fee problem - how do you absorb the cost if a significant number of your customers are using it?


 
 
 
 


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  # 1849794 21-Aug-2017 13:17
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I see in Trademe's help that the afterpay fee is 5.95%, and they have various late payment fees (charged to the buyer). 

 

Still a tricky one - I know I wouldn't enable it carte blanche on my listings




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  # 1849817 21-Aug-2017 13:19
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It looks like you need to signup to afterpay with a credit card. So its therefore very similar to pay now with a credit card, except it does not take the complete payment right away. I guess there will be also be credit card charges for each of the split transactions. I don't see the point of this if you already using a credit card unless your card is maybe already nearly maxed up. Maybe it takes debit cards too?

 

Here is an Aussie review I came across:

 

https://www.choice.com.au/shopping/online-shopping/buying-online/articles/what-is-afterpay-and-can-it-be-trusted-170320

 

 


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  # 1849820 21-Aug-2017 13:20
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Can't afford it. Don't buy it.





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  # 1849823 21-Aug-2017 13:25
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Far more simple to sell to buyers paying cash only. Guessing this is more for in trade sellers to get customers who couldn't otherwise afford the goods. But not great for these people to be burdening themselves with more debt.

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  # 1849826 21-Aug-2017 13:33
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it's popular in AU. pretty much every online store has it. We offer the same to our AU users

 

Afterpay pays seller full purchase amount - fees. Customer will pay in 4 installments to afterpay (first installment at the time of checkout + the other every fortnight). Sounds pretty simple and easy, but gotchas at refunds/returns/etc - might become nightmare to small business.

 

 





helping others at evgenyk.nz


 
 
 
 


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  # 1849827 21-Aug-2017 13:34
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they are just following https://www.laybuy.com/.

 

i have used it to pay for some tyres.  Works well and it costs me nothing , the full amount is split into 6 payments and paid off over 6 weeks. I use my debit card so have no extra fees and all it takes to be accepted is a credit check at join up , which took 5 seconds.





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  # 1849873 21-Aug-2017 15:31
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vexxxboy:

 

they are just following https://www.laybuy.com/.

 

i have used it to pay for some tyres.  Works well and it costs me nothing , the full amount is split into 6 payments and paid off over 6 weeks. I use my debit card so have no extra fees and all it takes to be accepted is a credit check at join up , which took 5 seconds.

 

 

 

 

Except will the seller just be adding the cost to the selling price, as someone will have to pay for it.


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  # 1849886 21-Aug-2017 16:01
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I've used afterpay a few times at Supercheap Auto and Officeworks. Pretty handy when there's a VIP sale on. I got a $650 toolbox for $310.

 

I could've paid cash, but that annoys the Mrs as it comes out of a combined savings. This way I just paid for it over a few pay days and savings is still gathering interest.

 

 

 

@vexxxboy I'd be guessing Afterpay came first... :) Been around a while.

 

 

 

And it's not just online stores here any more either.


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  # 1849889 21-Aug-2017 16:04
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@vexxxboy I'd be guessing Afterpay came first... :) Been around a while.

 

 

 

And it's not just online stores here any more either.

 

 

 

 

since June i think





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  # 1849901 21-Aug-2017 16:20
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vexxxboy:

 

 

 

 

 

@vexxxboy I'd be guessing Afterpay came first... :) Been around a while.

 

 

 

And it's not just online stores here any more either.

 

 

 

 

since June i think

 

 

Afterpay has been here since 2014.


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  # 1850392 22-Aug-2017 14:40
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I signed up after getting the Trademe email; didn't need to provide any credit card details yet (though Trademe as them and can probably link the two)

 

Haven't found a knowledge base (or similar) yet, but then again haven't looked very hard.

 

I can think of a few stores on Trademe that sell things I might be interested in, that layby as a payment option would be more beneficial than paying in full.. shall see if they sign on


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