Buy now pay later news and advice

All the latest buy now pay later news and top tips to help you manage your buy now pay later.

Commbank launches steppay the latest big bank buy now pay later venture

CommBank launches StepPay, the latest big-bank Buy Now Pay Later venture

Today, CommBank has officially launched StepPay - it’s brand new Buy Now Pay Later (BNPL) service. CommBank introduced StepPay to customers last month and were taking pre-registrations, however it’s only as of right now that the platform is live for them to use. “We’re excited to create the first BNPL from a major bank which can be used anywhere our cards are accepted,” CBA’s executive general manager, Marcos Meneguzzi said. “We know BNPL is a popular choice among customers, but is hampered by its limited use and availability in only selected retailers and businesses. With StepPay, customers have freedom around where they’d like to shop, offering the same accessibility as our other CBA cards. "

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Citi launches spot buy now pay later

Citi launches Spot. Buy Now Pay Later

Another bank has announced it’s jumping on board the Buy Now Pay Later (BNPL) train! Today, Citi Australia revealed that in October 2021 it’ll be launching a brand new BNPL service called ‘Spot. Buy Now Pay Later.’ And pre-registrations are now open. Traditionally known for its extensive suite of credit card options, Citi says that the service is a separate brand and will be issued by it’s affiliate company, Diners. “We are excited to enter the buy now pay later market with an offering that will be compelling for customers and merchants,” Head of Cards and Loans at Citi Australia Choong Yu Lum said.“This is a global first for Citi, and we’re confident that success in the Australian market could lead to a worldwide rollout of the new payment method.”

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Articles

65% of Buy Now Pay Later spenders using it for big necessities, finds Mozo

Aussies aren’t just using Buy Now Pay Later (BNPL) to buy a fresh outfit - the majority of them are using these platforms to buy big necessities like fridges, heaters, new beds and more, according to Mozo’s 2021 Buy Now Pay Later Report.“Shoppers don’t just use Buy Now Pay Later for small purchases like clothing. Mozo research found that 65% of users purchase large necessary items on the platforms, like fridges or other household appliances,” says Mozo spokesperson, Claire Frawley. Just behind large necessary purchases, over half of BNPL users (57%) are spending on luxury items like designer clothing and jewellery, while more than a quarter (28%) are buying essentials like food.

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Mozo s 2021 buy now pay later report aussies have a new go to for their biggest purchases

Mozo’s 2021 Buy Now Pay Later Report: Aussies have a new go-to for their biggest purchases

Buy Now Pay Later (BNPL) has well and truly captured Aussie consumers’ attention and continues to solidify itself as a serious player in the digital payment game. For a number of years, shoppers have been turning to interest-free platforms like Afterpay, Zip and Humm to purchase items, whether online (42%) or in-store (16%), according to the latest Mozo research. This ongoing shift away from more traditional payment options has prompted our focus on this topic in our 2021 Buy Now Pay Later Report.

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Afterpay popular alternative payment method for aussies says worldpay

Afterpay popular alternative payment method for Aussies, says Worldpay

Buy Now Pay Later (BNPL) provider Afterpay has been named one of the three most popular alternative payment methods in Australia, in a new report from Worldpay. In its report, the global payments processing platform looks at how 2020 and the Covid-19 pandemic have affected the way people all over the world exchange money for goods and services.

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