Pint now, pay later: Afterpay's move into Australian dining
Australians will now be able to enjoy a drink at the pub with Afterpay. The payments company has partnered with hospitality group Australian Venue Co to launch its "Dine Now, Pay Later" offering, which enables people to purchase items from more than 160 pubs across Australia.
Australian Venue Co chief executive James O'Brien said the company had been working for months on a solution to bring Afterpay payment method into pubs and clubs.
"We see an opportunity to offer our customers a way to buy what they want when they want it," he said.
This move has sparked concern from consumer advocates who have warned the latest use of the buy now, pay later scheme could lead to a "debt spiral" for people.
Afterpay's compulsory repayment schedule sees customers pay a quarter of the purchase price - minus a $10 fee - within three business days. Then they have another fortnight to repay the balance.
Afterpay said it would help people manage their use of its service by providing "tools to support them as they spend money".
"We know that our customers enjoy going out and we want to make sure that we continue to offer Afterpay as a payment method when they do," said Afterpay CEO and co-founder Nick Molnar
"This partnership with Australian Venue Co is the perfect way for us to extend our reach in the community and bring Dine Now Pay Later to more Australians."
