16 Nov 2021

Dine Now, Pay Later: Afterpay moves into Australian hospitality industry

From Nine To Noon, 9:07 am on 16 November 2021

From this week, Australians will be able to use Afterpay to pay for food and beverages at 160 pubs and restaurants around the country. The hospitality group Australian Venue Co has partnered with Afterpay to launch "Dine Now, Pay Later". But that's sparked concern for budgeting service providers on both sides of the Tasman, who are already worried about increased debt as a result of Buy Now, Pay Later services like Afterpay, Humm, Zip and Laybuy.

 In New Zealand, the government is seeking feedback to understand how Buy Now, Pay Later products can trigger financial hardship - but also what benefits these services provide. MBIE is considering options for regulating the sector; from a voluntary industry code, through to applying the Credit Contracts and Consumer Finance Act to Buy Now, Pay Later products. Kathryn speaks with Katherine Temple, director of policy and campaigns at Consumer Action Law Centre in Australia, and FinCap spokesperson Jake Lilley.

Anyone can have a free and confidential chat about their options with debt with MoneyTalks on 0800 345 123.

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