AfterPay Consumer Terms & Conditions
The AfterPay Consumer Terms & Conditions contain Terms & Conditions for all AfterPay Payment Options:
AfterPay Invoice Options
AfterPay Part Payment Options
I. Terms & Conditions for AfterPay Invoice Options
1. Who can pay with AfterPay Invoice Options?
You must be 18 years old, have a Norwegian ID number and a Norwegian address entered in the National Registry. This address cannot be a PO box address. By choosing AfterPay, you consent to Arvato Finance AS obtaining details of your credit history. Payment with AfterPay is conditional on a satisfactory credit check. If the invoice is not paid, you consent to your credit details being passed to Gothia AS. Arvato Finance AS may transfer and/or pledge the debt.
2. Why do you credit-check me?
Unfortunately, there are people who abuse the right to buy on credit and have no intention of paying for the goods they receive. A credit check reveals your creditworthiness and any recorded late payment notices.
3. What does it cost?
The only cost you may be billed for when you shop with AfterPay could be an invoicing fee charged by the webshop.
4. Late Payments?
In the case of late payment, there will be a reminder charge in accordance with the current laws and regulations. Interest will also be charged according to the Norwegian Act on interest on overdue payments.
We will send invoices and information to you by e-mail to the address you gave when you selected AfterPay. All information is also available on MyAfterPay, upon login with that respective email address. It is your responsibility to ensure that you have a valid e-mail address where AfterPay can reach you at all times. AfterPay always reserves the right to send information to your address from the National Registry.
II. Contractual Terms & Conditions for AfterPay Part Payment Options
1. What is AfterPay Flex Payment?
With AfterPay Flex Payment, you can opt to gather all your purchases with AfterPay into one monthly invoice. The minimum amount to be paid will be shown on the monthly invoice. You can pay off your balance whenever you like without incurring any further costs.
2. What is AfterPay Fixed Installment?
With AfterPay Fixed Installment, you can split the amount over a specified number of months. You can then pay a fixed amount per month until the whole amount has been paid off. You can pay off your balance whenever you like without incurring any further costs.
3. Who can use AfterPay Flex Payment/AfterPay Fixed Installment?
You must be 18 years old, have a Norwegian ID number and a Norwegian address entered in the National Registry. This address cannot be a PO box address. With a few exceptions, the Minimum Order Value has to amount to a minimum of NOK 200,-. Payment with AfterPay Flex Payment/AfterPay Fixed Installment is conditional on a satisfactory credit check. If these conditions are breached, you consent to your credit details being passed to Gothia AS.
4. Applying for an AfterPay Flex Payment and AfterPay Fixed Payment
Applications for credit within AfterPay’s part payment options may be made either via the (1) the Merchants digital touch points or via (2) MyAfterPay.
(1) Following a purchase, an invoice will be distributed digitally, or by post, to the consumer. On the invoice the consumer will receive a link to the MyAfterPay digital touch point with the call to action to sign the credit agreement.
(2) The choice of a part payment done within MyAfterPay, after previously having selected an invoice solution at checkout, triggers the signing of the credit agreement directly.
5. Credit assessment and approval of credit
To receive credit it is required that the consumer submits all requested information and then gives approval of the Contractual Part Payment Terms & Conditions. If this does not happen then an invoice will be generated informing that the amount shall be paid in full.
The consumer has the option to submit information and approve the contractual terms and conditions for the AfterPay Part Payment options via MyAfterPay up until the time when the invoice is transferred to debt collection.
In connection with an application for credit, AfterPay performs a credit assessment whereby AfterPay assesses whether the consumer has the economic capability to fulfill the payment obligation. The credit assessment is based on information regarding the consumer that AfterPay obtains from credit information agencies as well as the information provided in the consumer’s application and information AfterPay already might possess.
6. Failure to pay
Late payment will incur a reminder charge, in accordance with the current laws and regulations. In the case of a serious breach of the payment commitment, the whole amount will fall due and your AfterPay Flex Payment/AfterPay Fixed Installment agreement will be terminated, in accordance with the Financial Agreement Act.
AfterPay will send invoices and information to you by e-mail or by mail to the address you submitted when you selected AfterPay. All information is also available on MyAfterPay, upon login with that respective email address. It is your responsibility, to ensure that you have a valid e-mail and postal address so AfterPay can communicate with you at all times. AfterPay always reserves the right to send information to your address from the National Registry.
8. What does it cost?
The costs for AfterPay Flex Payment consist of a monthly charge of NOK 45 and annual interest, currently 19.50% of the credit amount. The interest is capitalised each month.
- Start-up charge:: NOK 0
- Monthly charge: NOK 45
- Annual interest: 19,5%
Example: If you spend NOK 5,000 and split the payment across 9 months, your effective interest rate will be 45.09%. The total borrowing cost will be NOK 820.
The costs for AfterPay Fixed Installment consist of a start-up charge, a monthly charge and annual interest for the 12, 24 and 36-month options. The interest is capitalised each month.
- Start-up charge:: NOK 95 (3 months), NOK 195 (6 and 12 months), NOK 295 (24 and 36 months)
- Monthly charge: NOK 45
- Annual interest: 0% (3 and 6 months), 9.95% (12, 24 and 36 months)
Example: If you spend NOK 5,000 and split the payment across 6 months, your effective interest rate will be 37.75%. The total borrowing cost will be NOK 465.
III. Personal data
The protection of your privacy is of the utmost importance to us. AfterPay processes personal data in order to confirm your identity, assess on which payment option to offer you, administrate the customer relationship, to prevent abuse or misuse of AfterPay, to conduct customer and risk analysis and risk management, for the prevention of money laundering, and to comply with general legal requirements. Personal data is information that can be directly or indirectly linked to you.
Below are examples of personal data that AfterPay may process:
- Contact information: name, address, date of birth, Social security number, e-mail address, telephone number, etc.
- Payment information: invoice information, bank account number etc.
- Financial information: your income, potential credit commitments, negative payment history
- Information on goods/services: details about the items you purchase
- Historical information: your purchase, payment and credit acceptance history
We reuse the data you previously provided to us and we may share your information with credit reference agencies and providers of identity lookups and anti-money laundering screening companies for the purpose of assessing your credit score and risk assessment upon applying for one of our payment methods, and for confirming your identity and address information.
If you have used AfterPay´s services previously, there might be information stored about you, e.g. for customer administration, documentation requirements or similar approved purposes. Where available AfterPay will use such information to confirm your identity and simplify your use of AfterPay. AfterPay may use electronic communication (through for example text messages and e-mail) in contacts with you. You are entitled to request access to data, edit incorrect data relating to you or inform us that you no longer wish to have your personal data stored. The request shall be sent to Arvato Finance AS, Postboks 331 Sentrum, 0101 Oslo or e-mail: firstname.lastname@example.org
Data may also be provided to the merchant from which you made your purchase (for administrative purposes) and to authorities and other governing bodies if AfterPay is legally required to do so. AfterPay may also share your personal data with other companies within the Arvato Financial Solutions group. AfterPay is the data controller for the processing of your personal data. Please see AfterPay´s Privacy Statement for AfterPay´s full description of AfterPay´s processing of personal data
Revision Date: 12.05.2018
Version Number: 1.20