Eat now, pay later: afterpay will be available in restaurants

0


Have you ever thought about running away after a meal at a restaurant? Well, now you maybe can.

More than 160 restaurants across the country will introduce Afterpay and other Buy-It-Now, Pay-On-Pay services – allowing customers to eat their meal and pay for it over a period of time.

Advertising giant Australian Venues Co will be offering Afterpay payments from November.

Nexia Perth’s head of financial solutions, Fran Hughes, says making the service more available could be a problem.

“With Afterpay, you can transfer your payments to your credit card, making the debt problem worse,” she told Perth LIVE. “This aggravating effect could lead to a debt spiral.”

Afterpay allows customers to buy goods now and pay for them later, with most of its users being younger.

“We know that with 6.1 million active users, it’s a pretty popular space. Research shows that Afterpay users tend to be between the ages of 18 and 29, and also struggle with credit card debt or personal loans, ”Ms. Hughes told Oliver Peterson.

Last year, the company made $ 70 million in late fees alone. Ms Hughes believes there should be more stringent measures for people who may not be able to afford the fees.

“Buy now, pay later. Affordability control systems are lacking. There really aren’t enough guarantees in place to make sure people can afford their repayments, ”she said.

Press PLAY to learn more


Leave A Reply

Your email address will not be published.