Afterpay Card is coming in 2021!
Afterpay Card is a contactless Visa Card stored in the customers Apple or GPAY wallet which means they can simply tap their mobile device on the payment terminal at your store to pay in 4 with Afterpay!
What is changing for me as an Afterpay merchant?
- We are launching a new in-store product - Afterpay Card
- Afterpay Card will replace our current in-store barcode/QR code solution from 18th May 2021.
- The barcode system will continue to be supported within the app for existing customers in addition to the card feature until July 2021
- New customers to Afterpay will only have the option to pay with the Afterpay Card when making purchases in-store and will not have access to the barcode
- QR code will be decommissioned in 18th May 2021 when Afterpay Card launches.
What is the difference between the two products?
- Barcode/QR code is generated by the customer via the Afterpay app and then scanned via your POS of standalone system to create an Afterpay order for the customer
- Afterpay Card is set up by the customer in the Afterpay app, the card is stored in the Apple or GPAY wallet on the customer’s device and a purchase is made by tapping the card on your payment terminal to create an Afterpay order for the customer
Will this affect my business operations?
- This change will only affect merchants with an Afterpay in-store offering
- We are not making any changes to our online product or settlement if you have an existing Afterpay checkout
- You will process and settle Afterpay transactions via your relationship with your Merchant Acquirer - the same way you process and settle other card payments
- If your online business supports Apple Pay checkout, customers will be able to use the Afterpay Card within Apple Pay to complete a purchase
How does the Afterpay Card work?
- Customers will complete a one-time card set-up flow via the Afterpay app to create their virtual Afterpay Card
- For each purchase, the customer will open their Afterpay app to access their card, they can check their available Afterpay amount and then tap their phone on the card payment terminal to make their contactless payment purchase
- As a merchant, you will process the transaction as a Visa prepaid card transaction.
How is Afterpay supporting my business and our customers during this transition?
- We will be rolling out updated staff training, visual merchandise and customer marketing materials to support the change. More details will be provided to you over the coming weeks.