Afterpay

Country: New Zealand (NZ) | Payment Rail: bank_clearing

BNPL Market Adoption: 12%

Afterpay is the leading Buy Now Pay Later (BNPL) platform in New Zealand by Block, featuring 4 bi-weekly interest-free installments widely used for fashion, beauty, and online retail.

🔄 User Payment Flow

User selects Afterpay at merchant online checkout
User logs in with mobile number and authorizes initial 25% installment
Remaining 3 fortnightly installments are scheduled automatically
Order is confirmed immediately with zero interest charges

⚙️ Characteristics & Settlement

Instant Payment	YES
Supports QR	NO
Supports Recurring	YES
Supports Refund	YES

🛠️ Merchant Integration Steps

Merchant initiates checkout session via Afterpay Online API or PSP (Stripe, Adyen)
Afterpay performs real-time credit check and fraud screening
Upon order capture, Afterpay settles 100% of order value to merchant
Afterpay handles automated collection of subsequent installments

🚀 Supported Payment Gateways & Acquirers (PSPs)

🔌 Stripe🔌 Adyen