AfterPay | BNPL

Buy Now Pay Later (BNPL) schemes offer instant access to credit and the items on our wish lists. They allow a shopper to make a purchase, pay an initial instalment, then clear the remaining balance in regular, automatic payments. Currently, there are six main BNPL providers in NZ. Here Canstar reviews and compares Afterpay with its competitors.

How does Afterpay work?

Afterpay is one of the most recognisable BNPL schemes in NZ:

  • Pay over four instalments, every two weeks, from initial purchase instalment
  • No fees if you pay on time
  • Personalised credit limit
  • App and website
  • Virtual Afterpay card that’s linked to either Google Pay or Apple Pay

What are Afterpay’s late fees?

  • $10 fee for your first late repayment; $7 fee every seven days if you continue to miss your repayments
  • Fee cap: For each order below $40, a max of one $10 late fee may be applied per order. For each order of $40 or above, the total of the late fees that may be applied are capped at 25% of the original order value or $68, whichever is less

How does Afterpay compare?

The display order does not reflect any ranking or rating by Canstar.

Provider Instalments Frequency Late Fee Late Fee Cap
4 Fortnightly $10 then $7 each week 25% of item cost
6 Weekly $10 per missed payment $40
4 Fortnightly $3-$15 per missed payment $9-$45
4 Fortnightly $8 per missed payment $40

This information is not an endorsement by Canstar of BNPL schemes or any specific provider.

About Afterpay

Afterpay was founded in Sydney, in 2014. Since then it has grown rapidly and expanded globally. It now has millions of customers and tens of thousands of merchant partners across Australia, US, Canada, UK (where it’s called Clearpay) and New Zealand. It was recently acquired by Square Inc, an American financial services and digital payments company founded by Twitter CEO Jack Dorsey, for US$29 billion.


Canstar Research
Award: Most Satisfied Customers | BNPL 2022

Written by: Bruce Pitchers | Last updated: September 9, 2022

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