2022 Post-Payment Review – Forbes Advisor

Afterpay is just one of many BNPL options that can help you split payments for your purchases. Here’s how Afterpay compares to some alternatives:

Afterpay vs Affirm

Like Afterpay, Affirm lets you split purchases into four interest-free payments due every two weeks. Unlike Afterpay, Affirm digital cards requested from the app can be used at any online or in-store merchant, not just select store partners, giving you more shopping flexibility.

For larger purchases, Affirm also offers long-term financing options through select merchant partners, which work like a personal loan. You can borrow up to $17,500 and loan terms are usually three, six or 12 months. Note that Affirm may require a deposit for certain purchases.

Afterpay vs. Klarna

Afterpay and Klarna are similar in the way they allow shoppers to split purchases into four bi-weekly payments. However, Klarna also offers two other payment options: payment in 30 days or with monthly financing. The 30-day payment plan is basically an invoice for your purchase that’s due 30 days after your purchase. Monthly financing is an option where you spread out payments for up to 36 months, and interest will be charged.

A big differentiator between Afterpay and Klarna is that with Klarna you are not limited to partner stores. Afterpay says the company is constantly adding new retail partners, but you can use Klarna at almost any store that accepts prepaid cards by setting up a virtual card in your Klarna app and using it at checkout.

Related: Klarna review

Afterpay vs PayPal Pay In 4

With PayPal’s Pay In 4, you can split purchases of $30 to $1,500 into four interest-free payments with no late fees. Since PayPal is a veteran in the online payment space, you may already have a PayPal account. This means you can start shopping faster than signing up for a new account with Afterpay or Klarna.

PayPal also offers a long-term financing option with terms of six, 12, or 24 months if you want to spread out payments for a large purchase.

Related: PayPal Pay In 4 Review

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