Afterpay alternative for deposits and payment plans
Afterpay splits a purchase into four payments on its own schedule. If you need a deposit now and the balance paid before a date you choose, SPLTR is built for that — and it costs your business nothing.
| SPLTR | Afterpay |
|---|---|
| Who sets the schedule | |
| You do: deposit today, then weekly, every two weeks or monthly, finishing by the date you choose. | Afterpay does: usually four payments, two weeks apart. |
| When you get the money | |
| As each instalment is charged, straight into your own Stripe account. | Up front, at the sale, less Afterpay's fee. |
| What it costs the business | |
| Nothing. A flat $1 plan fee sits inside each instalment the customer pays, and you can set it higher and keep the difference. | A merchant fee on each sale, set in your agreement with Afterpay. |
| If a payment fails | |
| Smart retries on the customer's card. If a payment still fails, it is yours to sort out with your customer — you hold the plan. | Afterpay's to chase — you were already paid. |
| Checks on the customer | |
| None. It is your customer's own card on your schedule. | Afterpay decides at checkout whether the shopper can use it. |
Afterpay's terms vary by country and by agreement — check theirs for your business.
When Afterpay is the better choice
You sell everyday retail and want the full amount at the moment of sale.
Your shoppers already use Afterpay and look for the button at checkout.
You never want to deal with a failed payment yourself.
When SPLTR is the better choice
You take a deposit and need the balance in before an event, a trip or a delivery date.
Your price is larger, or the plan needs to run longer than four payments over six weeks.
You would rather not give up a fee on every sale — with SPLTR the business pays nothing.
See your own plan
Put in your price, the deposit and the date it has to be paid by — the payment plan calculator gives every date and amount.