Meet payo: A way to Buy Now Pay Later at restaurants

people eating in a restaurant using buy now pay later

First launched in Brisbane and now available in Sydney and Melbourne, payo is a new app that allows customers to Buy Now Pay Later (BNPL) when dining out. 

Claiming to be the first of its kind world-wide, the payo app allows diners to pay their bill with a QR code and pay back their meal over four fortnightly interest-free instalments. There are also no account keeping fees attached to this product. 

And according to payo, this app could help boost more spending in the hospitality sector, an industry that has borne the brunt of COVID-19 restrictions and lockdowns. 

“The industry has been through a rough time with restaurant closures and simultaneously, a drop in discretionary spending,”payo co-founder and CEO, Taf Chiwanza, said. 

“By unlocking the BNPL offering within the restaurant space, we hope payo can be a part of the rebuild solution by driving increased traffic into restaurants.” 

What other features does payo offer?

Using the payo app diners can also find a place to eat, with the option to filter by cuisine, location, special offers etc. There are a range of exclusive discounts and limited offers available to customers that use the payo app.

Plus, customers can also call restaurants directly to make a reservation through the app and track their spending all in the one place. 

“We want to encourage customers to enjoy unique dining experiences by giving users the opportunity to better manage their cash flow and still enjoy themselves, so they don’t miss out on these moments,” Chiwanza said. 

Since March, the top 20 partnering restaurants in Brisbane have received thousands of transactions using payo, and the average order of payo customers has jumped up by 50%. 

While Melbourne and Sydney are currently both in lockdown, the payo app is available for use once restrictions ease. However, the app is available to download now and you can sign up whenever you like. 

Also bear in mind that this platform does have a late payment fee of $10 if you miss a repayment. Plus, there is also a minimum repayment amount of $10 per instalment. 

It’s also important to remember that Buy Now Pay Later platforms may impact your credit rating if not used responsibly. So ensure you aren’t spending beyond your budget, as it could cause you to be in unmanageable debt. 

Want to find out more about Buy Now Pay Later? Jump over to our Buy Now Pay Later hub for more providers, guides and the latest news or check out some of the latest Buy Now Pay Later statistics. 

^See information about the Mozo Experts Choice Buy Now Pay Later Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.