Buy now, pay later services are on the rise in Australia with OpenPay, Humm and Zip announcing a string of new partnerships with retailers.
A number of fin-tech payment providers have this month announced new additions to their retail partnerships.
The news comes just weeks after research from Which-50 found more than half of shoppers are now using buy now pay later services.
The news was first announced with Openpay last week announcing the growth of its portfolio with partnerships with Seed Heritage, French Connection and Nine West.
Just a week later Zippay announced a string of new partners set to join the platform including the Just Group, Hanes Australasia (Bonds, Berlei, Sheridan and more), Lorna Jane, Brandbank and General Pants.
The BNPL service also took on Koko Black, Grill’d, Schnitz and Carsales.
Fran Ereira, General Manager of Sales and Solution Delivery at Zip Co said the move was part of the company’s ongoing push to disrupt the finance industry.
“Zip is a credit card disrupter and wants to be everywhere you’d consider paying for items on plastic, whether that’s lunch, picking up a gift or booking an ad to sell your car.”
Just a day earlier humm joined the pack and took on a number of homewares, electrical and health retailers including Temple & Webster, Bing Lee, Jaycar and 1300 Smiles.
Commenting on the announcement, Rebecca James, Chief Executive Officer at flexigroup said the company is making new inroads in the sector.
“Retailers are favouring humm’s broader demographic and spending power, helping them drive higher value sales. And shoppers are embracing the ability to make larger lifestyle purchases more affordable by paying in interest free instalments.”