With the celebration of the Extraordinary Jubilee of Mercy indulgences have once again moved to the fore of Catholic imagination, with many pilgrims availing themselves of the opportunity to pass through a Door of Mercy or ‘Holy Door’ and thereby receive the jubilee indulgence. While the practice of indulgences has experienced something of a revival in popularity during recent papacies, the precise doctrine remains largely unrehearsed and unfamiliar, simultaneously evoking strong reactions of distaste and disquiet among many as memories of medieval abuse linger on. This article sets out the precepts of the most recent authoritative teaching on indulgences, itself almost fifty years old, before exploring the theological interpretation offered by Karl Rahner and tracing its gradual and largely anonymous appropriation in papal teaching through the post‐conciliar period. With Pope Francis promoting mercy as a central theme for his papacy and ecclesial vision, the paper closes by considering how he may be proposing a further re‐appropriation of indulgences which shifts attention from their post‐mortem efficacy to their capacity to establish a Franciscan reflexivity of mercy in the contemporary church.