BNPL Platform Afterpay Rolls Out Pulse Rewards to All Customers

Love them or hate them, “buy now, pay later” (BNPL) options have exploded in recent years. Services such as Klarna, Affirm, Quadpay, and others allow consumers to finance purchases without paying interest, provided that they pay off the balance within a few weeks. Now, one BNPL platform is rolling out a rewards program to its customers.

As of June 29th, all Afterpay customers will be able to opt into the free Pulse Rewards program and begin earning points. What’s more, when users join, their past Afterpay on-time payments will be recognized. For every on-time payment a customer makes, they’ll earn 10 points. Additionally, Afterpay notes that they’ll be offering extra ways to earn points, such as shopping in-store, supporting small businesses, and other special promotions.

These earned points will allow users to unlock rewards as they move to different tiers. Currently, there are four reward tiers: Gold (0-99 points), Platinum (100-299 points), Diamond (300-499 points), and Mint (500+ points). However, the points earned reset every six months. If a customer reaches a new tier during that six-month eligibility period, they’ll be able to enjoy the perks of that tier for the rest of the current six month period as well as the following period. Some of the perks featured across the various tiers include the ability to delay payments for up to seven days a certain number of times per year, the ability to delay the initial payment for up to two weeks, the ability to earn exclusive offers from select brands, and more.

In a press release announcing Pulse Rewards, Afterpay North America general manager Zahir Khoja said of the program, “Pulse Rewards is a stark contrast to the reward programs offered by credit card companies, which encourage and reward excessive spending.” Khoja elaborated, saying, “Our model promotes financial wellness, which reflects a growing generation of consumers who prefer to spend responsibly and avoid revolving debt and interest.”

While Pulse Rewards may be a welcomed addition for some Afterpay customers, the roll out is also sure to further rile up those who have taken a strong stance against BNPL services. These detractors warn that buy now, pay later schemes lead consumers to purchase items they can’t actually afford, thus hurting their finances overall. On the other hand, there are also those who argue that the lack of finance charges and structured repayments plans that come with BNPL options makes them a better alternative to credit cards. In any case, Afterpay’s latest program is sure to intensify competition in the space as BNPL services continue to grow.


Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded in 2015 to focus on personal finance and the emerging FinTech markets.

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