Afterpay and Square
Afterpay is a buy now, pay later (BNPL) payment option that allows customers to pay for their purchases in four interest-free installments. Merchants get paid in full – immediately. With Square, you can process Afterpay payments:
Afterpay gives your customers more payment flexibility when checking out online and in-person — see how your sales can grow:
Increase your average transaction value.
Customers who use Afterpay have an 18% higher average transaction value.*
Reach new customers ready to spend.
85% of Afterpay customers discovered a new merchant in the last six months.**
Never miss a sale.
Let customers pay how they want – with more flexibility – at no risk to you.
* Mastercard AU Incrementality Study, October 2020.
** Internal Afterpay Study, September 2021.
Performance highlights from the Afterpay Limited FY21 Annual Report include:
Expand your reach.
3.6 million customers shop with Afterpay in Australia and New Zealand.
Bring in more business.
The top 10% of Australian and New Zealand customers use Afterpay more than 64 times per year.
Prepare to grow.
Afterpay sends 1 million referrals to merchants every day.
There are no monthly fees or startup costs to start processing Afterpay with Square. You only pay processing fees when you make a sale. To help you start using Afterpay in-person, you will be able to test out Afterpay across select Square products at a discounted rate.
|Product||Promotional pricing||Promotion End Date|
|In-person (Including Square POS, Retail POS, Restaurants POS, and Appointments POS)||1.6% (incl. GST)||10 September 2022|
|Virtual Terminal||2.2% remote payments (incl. GST) or 1.6% in-person payments (incl. GST)||30 July 2022|
|Square Online||6% + 30¢ (excl. GST)||11 May 2022|
|Square Online Checkout||2.2% (incl. GST)||30 July 2022|
After our promotions, Afterpay processing fees will be 6% + 30¢ (excluding GST) across Square Online and In-Person.
Note: Afterpay rates are fixed and do not vary by subscription type, hardware, or custom pricing.
Enable or Disable Afterpay
To enable or disable Afterpay for in-person transactions on Square POS app and Square Appointments app, you can enable/disable Afterpay directly from your app or online Square Dashboard.
If you're using Square for Retail POS, Square for Restaurants POS or Virtual Terminal, you will need to visit Payment Methods via a web browser to enable/disable Afterpay.
Once you've enabled Afterpay in-person, customers can pay via their digital Afterpay Card on Square POS, Appointments POS, Retail POS, and Restaurants POS.