afterpay

[jhughe]

great news

https://www.afterpay.com/en-AU/business/access/news/afterpay-joins-block?mkt_tok=NTM5LVJKQS02MzMAAAG...

[Arie]

We're excited about this news, too @jhughe! Check out our FAQ here for more info. 

[cmj167]

It would be nice if customers and retailers could take advantage of the square terminal to allow for in-store purchases through after pay.  The screens are there, and so is the internet connection so it seems like an obvious next step.

[keicollective]

we're SO EXCITED!! 

[MH_PT]

While I am excited for this option.  I am surprised to see that after the trial period, which ends May 10, 2022, the fee (transaction rate) goes from 2.9 + 30¢ to  "On May 11, 2022, the processing rate for Afterpay transactions will revert to a standard non-promotional processing fee of 6% + 30¢." Yikes, so really, as the retailer we are paying for the financing.  Doesn't seem like much of a benefit.  Or am I misunderstanding something.  Does anyone else think this is a deal breaker when the trial period is done?

[WhitneyMaille]

That standard non-promo rate was a deal breaker for me.  I already wince now when people use Paypal with it's higher fee and there's no way I'm supporting a 6% fee.

[jhughe]

remember you can add it to your products,but the law is changing soon when you be able to pass the fee on like you can for credit cards

[WhitneyMaille]

I have no interest in this product at this rate.  All fees and overhead are "passed on" to my customers one way or another via price increases regardless of laws surrounding overtly passing such fees on to customers.  I won't raise my prices for a product that encourages customers to spend beyond their means.  Thanks but no thanks.

[jhughe]

totally agree with you whitney, we dont encorage customers to spend beyond their thats a no win sitution for everyone. we only do what the customers and market dictate, 

[jhughe]

remember you can add it to your products,but the law is changing soon when you be able to pass the fee on like you can for credit cards

[pldtiedye]

It looks like Afterpay is only available on purchases $50 or more, and with the addition of giving the option to buy now, pay later, I’m thinking more customers will check out with bigger orders. Very loose, easy math… I’d rather pay $6 for a $100 order (profit $94) than pay $3 for a $50 order - making your profit $47. unless I’m misunderstanding how this works?

[Speedgraphic]

I could not agree more.  I'm very annoyed that they automatically turned it on in my store.  I don't want my customers getting used to something that I have no intention of footing the bill for when the fee doubles.  Hey Square, maybe stop asking for $45/mo for loyalty, plus extra money for emails....when you can't even do basic transactional emails through e-commerce!  Maybe start addressing the basic holes in the suite of tools before you try to increase fees even more.  SMH.

[varrs]

 was also surprised at that rate. I will most likely have to take the option away when it goes to that price. I would be willing to pay more but not that much more

[amjessey]

@tranguyen, 

Is Afterpay integration coming to the UK and if so, when?

And is Square known as Block in other countries?

https://www.clearpay.co.uk/en-GB/for-retailers/access/news/afterpay-joins-block 

[ReefPassion]

I do hope so! It’s frustrating when customers ask if we can do Klarna etc on our Square website and there isn’t anything we can integrate!

[jhughe]

Hi 

I think afterpay will be it due to the fact square own afterpay,unless you have paypal they offer bnpl not sure if that is active in square

[ReefPassion]

Yes sorry I didn’t mean it specifically needed to be Klarna, but it would be nice when our customers ask if we can say “no but we do have this….”. As far as I can tell (happy to be corrected on this one) PayPal can be used to take a standard card payment. But we can’t find a way to integrate their buy now pay later to our Square based website sadly. (At this point I’d take anything, as a lot of our products are equipment so on the higher end of the price scale so would help massively - we had to move away from a Woocommerce site as we couldn’t get the integration with our stock in square to work properly, but have now lost BNPL functionality.)

[AVsupport]

We were very excited after all the wait when Afterpay finally arrived. But 6%!! OMG this is a money grab! No thank you, we will give our customers the option to either use their credit card, or make a split payment. 

[pldtiedye]

Is there a way to offer split payment on square online?

[cmj167]

Assuming the customer doesn't want to pay all at once.... From what I have discovered, you have to create an invoice and manually accept a payment amount that you type in.  Then the invoice will remain open with the remaining amount to be paid later.  

[Speedgraphic]

I can't believe that Afterpay was automatically turned on in my store.  I'm not paying double the transaction fee!  With Square we are already nickel and dime'd for everything it feels like...now you want to increase me transaction fees to 6% so some customers can maybe spend more than they have?  I turned that off immediately!