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Marketing & Advertising guidelines.
As a member of Australian Finance Industry Association Limited (‘AFIA’), Afterpay has been accredited as a Code Compliant Member of the new Buy Now Pay Later Code of Practice (‘BNPL Code’), and is a holder of an Australian Credit Licence (‘ACL’) with the Australian Securities and Investments Commission (‘ASIC’). Afterpay is also registered as a Financial Services Provider (‘FSP’) with the New Zealand Companies Office, and is required to comply with the Credit Contracts and Consumer Finance Act (‘CCCFA’) and associated regulations.
As a regulated entity, Afterpay is subject to regulatory and marketing obligations which extend to Consumer Law, Good Practice Guidelines, Spam, Promotions and Competitions, Financial Terms and Calls to Action. More broadly, Afterpay is aware of and has processes in place to meet the requirements of all relevant laws, regulations and codes under which it operates.
This document describes Afterpay’s Merchant Marketing and Advertising Guidelines, and what Afterpay requires from Merchants to ensure that Afterpay complies with regulatory obligations and expectations in relation to marketing and advertising of its products and services in Australia and New Zealand.
As an Afterpay Merchant, you must follow these Merchant Marketing and Advertising Guidelines when promoting Afterpay independently and/or in collaboration with your own brand(s). This ensures that Afterpay is able to meet its regulatory obligations.
All marketing materials that mention Afterpay are subject to approval by Afterpay through its internal approvals process prior to use. Marketing materials include assets, communications, promotions and competitions.
These guidelines are subject to change and do not constitute legal advice. As a Merchant, you are responsible for obtaining independent legal advice to comply with your own obligations.
Only content set out in these guidelines or approved by us in writing are authorised by Afterpay for use. When these guidelines or other approved content is updated by us, only the newest version is authorised by us and any old versions are no longer authorised for use. You are solely liable for any use or publication of unauthorised content.
Failure to follow these guidelines may result in Afterpay ceasing its merchant arrangement with you. If you have any questions, please contact your Afterpay contact.
Any merchant marketing materials which mention Afterpay must:
- Not be misleading or deceptive;
- Not include false claims;
- Adhere to Afterpay’s brand guidelines. Your Afterpay contact will provide these to you;
- Accurately display fees and costs, including displaying the total value of the purchase and not only the instalment value;
- Only compare products that are closely similar;
- Not use terms or phrases inconsistent with the ordinary meaning of the word understood by customers; and
- Be clear, avoid ambiguity and take a conservative approach.
Marketing communications to customers which mention Afterpay must also:
- Be permissible (e.g. customers must be opted in, subscribed, or otherwise have provided consent to receive the communication);
- Be easy to unsubscribe or opt out; and
- Not utilise address-harvesting to prospect consumers.
Additionally:
- Afterpay is prohibited from using certain terms in their marketing materials - merchants MUST NOT use these terms in any marketing material which mentions Afterpay. A list of prohibited terms are detailed in the next section;
Some merchant categories and product offerings are subject to additional restrictions. Your Afterpay contact will provide these details if this applies to you.
Prohibited terms | Comments and approved language |
|---|---|
No fees, no cost, it's free if you pay on time | This statement alone is misleading, as late fees apply to the Afterpay BNPL product, and the Afterpay Plus product has a fee for service. Afterpay prohibits the use of the term “free” due to its product offering and regulatory guidance on this language. |
Interest free | May only be used with the value proposition of “when you pay it in 4”. |
Four equal instalments 25% up front 25% every 2 weeks | This statement may be misleading as some Afterpay product features may enable a variable payment upfront. Afterpay prohibits the use of ‘equal instalments’, and may instead use “Four Instalments”. |
Four instalments of *insert figure*. | When mentioning instalment amounts, it is essential that the full purchase price / payment amount is included e.g. material must include the total cost of $100, and not just 4 instalments of $25. |
Affordable / affordability, cheap | This language is misleading as the use of Afterpay does not make the purchase of products or services affordable or cheap. Afterpay can be used to enable customers to split their payments into four / pay over time however this does not change the cost of the purchase. Afterpay prohibits the use of this language. |
No Hidden Fee | If we use this phrase it’s essential the disclaimer “No fees when you pay on time” is shown while “no hidden fees” is on-screen. |
No Catch | Afterpay prohibits the use of this language. |
No Down Side | Afterpay prohibits the use of this language. |
No Strings Attached | Afterpay prohibits the use of this language. |
Instant approval / guaranteed acceptance / no credit checks | This statement is misleading as Afterpay customers are subject to eligibility criteria (including in some circumstances, credit checks). Afterpay prohibits the use of this language. |
Very low late fees | Afterpay prohibits the use of this language. This is a subjective statement as late fees are capped. |
Pay in Four | Afterpay’s approved language is “Pay it in Four”. |
Bank, banking, cash, cards | Afterpay prohibits the use of language such as “bank” / “banking” or terms implying that there is cash, money or cards provided by Afterpay in any marketing or promotional material as they are regulator restricted words. |
- Afterpay’s Terms and Conditions must be clearly displayed and readable. Your Afterpay contact will provide you the Terms and Conditions that must be included in marketing material.
- A disclaimer must be used in instances where a “Call to Action” or any reference to “Financial Terms” are made in marketing material. These are explained below.
-
You must not:
- Place disclaimer or Terms and Conditions text in obscure locations;
- Use text that is too small;
- Use flashing disclaimers on screen for only a moment; or
- Use voice overs that are too quick or too quiet.
Call to Action (CTA)
A CTA is any marketing material which suggests, implies or directs that an action can, should, or will be undertaken using Afterpay.
CTA examples include:
- Pay it in 4.
- Pay it over 6 weeks.
- Shop now.
- Checkout with Afterpay.
Financial Terms
Financial Terms in marketing is any financial language or terminology relating to Afterpay’s product(s).
Financial Terms examples include:
- Interest free when you pay it in 4.
- No fees when you pay on time.
Where you create a promotion or competition which mentions Afterpay, the following conditions must be communicated to entrants and must be included in marketing material:
- Conditions of entry and winning;
- Open and close date(s);
- Prize value and details;
- Prize draw time, date and location;
- Prize award and winner notification information;
- How to claim prizes;
- Results publication details; and
- Name, address and phone number of the promoter and permit/licence numbers if applicable.
The disclaimer must be included in full in the marketing material. A click through disclaimer or link to the Terms and Conditions is insufficient and not acceptable to Afterpay.
If the promotion or competition is owned by Afterpay, your Afterpay Marketing contact will provide the disclaimer.
If you own and run the promotion or competition, you must provide Afterpay with all marketing materials including the disclaimer for approval prior to use and prior to launch of the promotion or competition.
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