Square Webinars: Afterpay
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- čas přidán 26. 07. 2024
- Learn about Afterpay features, benefits, and fees.
0:00 Intro
0:30 Agenda
1:03 What is Afterpay?
2:06 Why Afterpay?
3:15 Afterpay fees
4:02 Enable/disable Afterpay
4:28 Afterpay FAQ
Transcript
Afterpay is a digital Buy Now, Pay Later wallet that allows buyers to pay for orders between $50 to $2,000 in four interest-free payments. If a cart total is outside of this range, Afterpay won’t show as a payment option during checkout.
With Afterpay enabled on your website, customers will be able to select Afterpay as their payment option during checkout - they’ll just need to sign in to Afterpay to complete their order. All installment payments are interest-free. At the time of purchase, you’ll get paid the full amount minus the Afterpay processing fees.
Afterpay doesn’t require external credit checks from your customers or charge application fees, so signing up and making purchases won't hurt their credit score. If your customers have any questions about their Afterpay payments, they should contact Afterpay through the Afterpay app or on afterpay.com/help.
Why use Afterpay?
Here are a few of the most exciting reasons to use Afterpay for your business:
Drive Incremental Sales:
Sellers see a 20% increase in cart conversion on average and more repeat customers when they offer Afterpay as a payment option.
Increase Average Order Value:
Afterpay lets customers get what they want,when they want it, increasing the average order value by up to 40%. Afterpay customers also have Lower return rates.
Attract New Customers
Merchants find that 30% or more of customers who use Afterpay are new to their brand. You'll also gain access to a large and growing segment of shoppers who prefer not to incur credit card debt or interest, or who wouldn’t have been able to afford a purchase without an installment option.
Access funds fast
The full payment, minus the transaction fee, is deposited and available to you almost instantly, just like other Square payments.
What is the processing fee for Afterpay?
Sales made using Afterpay carry a 6% + 30¢ processing fee on the total purchase. There are no processing fees charged on the remaining installments, and no other monthly fees or activation costs. This fee is the standard buy now, pay later rate that Afterpay charges all merchants.
How do I disable or enable Afterpay?
Eligible Square Online Sellers will have Afterpay automatically enabled as a payment option on their Square website. However, you can turn this feature on and off at any time. Enabling and disabling the Afterpay payment option on your Square Online site is simple:
1. Sign in to your Square Dashboard.
2. Select Online to open the Square Online Overview page.
3. If you have a single website, select Settings then Checkout. If you have multiple websites, select Shared Settings then Checkout.
4. Toggle the Afterpay option on or off depending on your preference.
Now let’s answer some frequently asked questions about Afterpay.
How do I manage refunds for orders paid with Afterpay?
You can refund orders through the Order manager in your Square Online Overview page just like any other order. Your customers will receive an email from Afterpay confirming the details of the refund. However, a refund can only be processed for a payment taken within the last 120 days.
What are the risks of using Afterpay?
The platform is set up so Afterpay takes on the risk of fraud for you so you can focus on growing your business.
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Thank you. This was a great video. Simple very informative.
We appreciate this feedback! If you need anything please let us know, we are always available to help at 1-855-700-6000 squ.re/contactsqsupport.
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When will this be available in the uk
We don't have an update on when AfterPay will be available in the UK just yet, but we'll be sure to announce it when we do.
Question if your customer used it are you liable if they don’t pay there payments or are you clear of any non payments to after play
@Lily’s Pet Grooming Spa & Boutique - All remaining payments are handled entirely by Afterpay, so if your customer is late or misses a payment, it has no effect on you. If your customer asks, you can direct them to contact Afterpay for more information. Take a look here squ.re/3gTFsqK for more details.
@@square Good to know, that is exactly what I was wondering about before using.
is there a way to use this for appointments or some type of booking, and can the clients use this on their end during booking if I have a prepayment set up? is there a way to use this for in person check outs?
Yes! Afterpay can be used with Square Appointments and that can be used in-person or online. You can learn more here: squ.re/3R41Ws2
Does the afterpay option come up when they swipe their debit card?
Great question. The Afterpay option would appear before you swipe your method of payment.
Mine doesn’t show in checkout as an option. I’ve already enabled it for online and in person checkout. Is there something else I need to do?
Please have a look at our Afterpay FAQ article here: squ.re/3mgdpV3 If you are still having trouble, please feel free to reach out to our support team for assistance. squ.re/3CrXkmg
@@vbrown7530 did you figure it out ? I have the same issue
@@maxidoza2223 same.. have anyone figured it out?
Is there a way to set a minimum purchase price to enable Afterpay? I would like to avoid clients using after pay for services/products under $100
You could always make a note on your website or however you communicate with your customers and set that expectation; however, I know it wouldn’t disable them from using it under $100…. Sorry I’m not much help!
@@danielleharris7370 That was my second option! Thank you!
@@skinandyoni2308 you are welcome!
You can adjust it on your desktop only. That's how I did it.
I enabled it but don't see it as a option for check out for my customers. What do I do?
Sorry to hear you're having issues with getting Afterpay to show up at checkout. After enabling, did you try to re-publish your site to see it available. Please let us know if that doesn't do the trick and we can circle back.
I set up after pay but it is not showing as an option.
Same
Please reach out to support at #1-855-700-6000 squ.re/contactsqsupport so we can figure out why you are having issues with Afterpay.
Do you need a website to enable to accept Afterpay?
No, you do not have to have a website in order to accept Afterpay. You can accept Afterpay on in-person payments, invoices, checkout links, and on the Virtual Terminal.
@@square can you send me a link to how to do so
For further assistance please reach out to support at 1-855-700-6000 squ.re/contactsqsupport.
This smells like a scam!
You do not need a website to access Afterpay! You can accept Afterpay in person as well.
If you have questions feel free to reach out to support at 1-855-700-6000 squ.re/contactsqsupport if you have more questions.
Really wish it was available for items over $2000.
my afterpay isnt showing up on my POS stand
I’m having the same issue.
@@skinandyoni2308 me as well, have you figured it out??
That's a high ass fee for the business!
No Thank you! That should be the customers fee.
Why would I want to take a 6% +30 cent hit , for the customers to have convenience making installment payments . That don't add up
I agree as a small biz owner, no thank you. Or charge it to the customer upfront.
Pretty sure not all merchants pay 6% +30c…some are around 4% I believe
It depends on the square plan you chose and how you went about charging customers That's what makes a difference in the percentage that square gets.
I need some help. Someone fraudulent made a account in my name…. Nobody is trying to help. I feel so violated??
Thank you for reaching out. When you have the moment please reach out to our support team at 855-700-6000.
No monthly costs, only daily costs ? Lmao… so this is how you guys are excusing yourselves for taking 6% per day?
Hello, @Nothing Special our processing fees are not 6%. That is if you use Afterpay. You can check out more information on fees here, squ.re/3wrjuTo.