Afterpay is now available in Bunnings – here's how it works and what it means for shoppers
- Replies 6
For those of you who enjoy shopping at Bunnings, we have some wonderful news!
Starting today, Australians can split the upfront cost of their spring projects by using the Afterpay payment option at Bunnings, one of Australia’s favourite hardware retailers. While the service can only be used in-store, there is no minimum purchase requirement to use it, so shop till you drop, folks!
Bunnings is now accepting Afterpay as a payment option. Credit: 9News.
What is Afterpay?
Afterpay is a platform that enables users to make purchases immediately, get their orders, and then pay for the items in equal instalments at a later time. This payment method is known as a Buy Now, Pay Later (BNPL) model.
It was established in Sydney in 2015 and offers a marketplace for consumers to purchase a wide variety of goods, including but not limited to clothing, makeup, medications, and even flights. It's become increasingly popular Down Under, with 9 per cent of Aussies using it as of December 2019.
How does Afterpay work?
Afterpay acts as a middleman between retailers and customers. Afterpay pays the store up front for the goods, and then the customer pays Afterpay back.
You can get your hands on your new item right away, but you'll have to pay for it in four equal instalments spread out over a total of eight weeks. Don't worry, though, because the total of these payments is the same as your order, and it doesn't come with any interest.
Although Afterpay doesn't charge interest, it does charge merchants fees for using the service, as well as late penalties for customers who don't make their payments on time.
Online orders at Bunnings are not eligible for Afterpay, only in-store purchases. Credit: 9News.
According to Katrina Konstas, Afterpay's Country Manager in Australia, the service will be helpful since it enables customers to spread out the cost of expensive renovation projects now that they have collaborated with Bunnings.
'Australia is a nation of DIYers with a passion for their homes and gardens and nothing embodies this more than our national love for Bunnings,' she said.
'We are excited that Afterpay will now be available to Bunnings' shoppers, which will help Aussies to create inviting spaces within their homes while balancing their budget.'
How do I use Afterpay?
To use Afterpay, all you have to do is select it as a payment option at checkout when purchasing from one of your favourite stores that accept Afterpay.
First-time customers will need to sign up for an Afterpay account, which will be approved immediately while returning customers will just need to log in to make a purchase.
When you order online, the goods will be sent to you by the store as soon as you finish checking out.
With Afterpay, you can buy something right away and pay for it over time. Credit: NCA NewsWire/Bianca De Marchi.
For shopping in stores (like Bunnings), simply download the Afterpay mobile app, set up the Afterpay Card by following the instructions in the app, and then use the Afterpay Card with digital wallets such as Apple Pay or Google Pay to make a contactless payment at the register.
You still have to pay 25 per cent of the total price when you buy it, but you can take it home the same day. That's how simple it is!
Where can I use Afterpay?
Here are a few of the major stores across the country where you can pay with Afterpay:
Although the BNPL service is convenient, we must warn that it normalises debt and is a high-risk financial offering for those with limited or uncertain financial resources.
The most secure method of shopping is still to save up and pay in full in advance, as this ensures that you will only buy what you need and won't go over budget.
However, if you decide to use Afterpay, consider these suggestions:
Do you use Afterpay? Let us know in the comments!
Starting today, Australians can split the upfront cost of their spring projects by using the Afterpay payment option at Bunnings, one of Australia’s favourite hardware retailers. While the service can only be used in-store, there is no minimum purchase requirement to use it, so shop till you drop, folks!
Bunnings is now accepting Afterpay as a payment option. Credit: 9News.
What is Afterpay?
Afterpay is a platform that enables users to make purchases immediately, get their orders, and then pay for the items in equal instalments at a later time. This payment method is known as a Buy Now, Pay Later (BNPL) model.
It was established in Sydney in 2015 and offers a marketplace for consumers to purchase a wide variety of goods, including but not limited to clothing, makeup, medications, and even flights. It's become increasingly popular Down Under, with 9 per cent of Aussies using it as of December 2019.
How does Afterpay work?
Afterpay acts as a middleman between retailers and customers. Afterpay pays the store up front for the goods, and then the customer pays Afterpay back.
You can get your hands on your new item right away, but you'll have to pay for it in four equal instalments spread out over a total of eight weeks. Don't worry, though, because the total of these payments is the same as your order, and it doesn't come with any interest.
Although Afterpay doesn't charge interest, it does charge merchants fees for using the service, as well as late penalties for customers who don't make their payments on time.
Online orders at Bunnings are not eligible for Afterpay, only in-store purchases. Credit: 9News.
According to Katrina Konstas, Afterpay's Country Manager in Australia, the service will be helpful since it enables customers to spread out the cost of expensive renovation projects now that they have collaborated with Bunnings.
'Australia is a nation of DIYers with a passion for their homes and gardens and nothing embodies this more than our national love for Bunnings,' she said.
'We are excited that Afterpay will now be available to Bunnings' shoppers, which will help Aussies to create inviting spaces within their homes while balancing their budget.'
How do I use Afterpay?
To use Afterpay, all you have to do is select it as a payment option at checkout when purchasing from one of your favourite stores that accept Afterpay.
First-time customers will need to sign up for an Afterpay account, which will be approved immediately while returning customers will just need to log in to make a purchase.
When you order online, the goods will be sent to you by the store as soon as you finish checking out.
With Afterpay, you can buy something right away and pay for it over time. Credit: NCA NewsWire/Bianca De Marchi.
For shopping in stores (like Bunnings), simply download the Afterpay mobile app, set up the Afterpay Card by following the instructions in the app, and then use the Afterpay Card with digital wallets such as Apple Pay or Google Pay to make a contactless payment at the register.
You still have to pay 25 per cent of the total price when you buy it, but you can take it home the same day. That's how simple it is!
Where can I use Afterpay?
Here are a few of the major stores across the country where you can pay with Afterpay:
- Kmart
- Target
- Catch
- Kogan.com
- Big W
- Jetstar
- Chemist Warehouse
- Sephora
- Pandora
- Optus
Although the BNPL service is convenient, we must warn that it normalises debt and is a high-risk financial offering for those with limited or uncertain financial resources.
The most secure method of shopping is still to save up and pay in full in advance, as this ensures that you will only buy what you need and won't go over budget.
However, if you decide to use Afterpay, consider these suggestions:
- Never use a credit card to set it up; just a debit card.
- Put a cap on your expenses, and don't go over it.
- Even though Afterpay sets up several reminders for users, you should still put up payment reminders to prevent unintentional late fees.
- Contact Afterpay right away if you're having trouble making payments.
Do you use Afterpay? Let us know in the comments!
.png){kind=icon}
