Afterpay is a buy‑now‑pay‑later (BNPL) service that lets shoppers split purchases into interest‑free instalments, typically four payments over six weeks, at participating online and in‑store merchants. Acquired by Block (formerly Square), Afterpay targets budget‑minded consumers who prefer short‑term, interest‑free repayment plans and merchants seeking higher conversion and average order values through flexible checkout options.