One of the main reasons we built Afterpay was to help customers get what they need without existing in an ongoing state of debt. When you use Afterpay, you pay for your items in full over a short period of time - 6 to 8 weeks - without incurring any interest.
We’re completely different to traditional credit products, which can push customers into long-term debt at high interest rates. If you do miss a payment, we charge late fees, but never any interest, and our late fees are low and capped so they can’t ever go higher than 25% of your order value. We also stop you purchasing once you’ve missed a payment. We know our approach works because 79% of our global community have never incurred a late fee and 95% of purchases are paid for on time.