Payment service Afterpay has just teamed up with department chain Target – letting the rest of us have instant gratification with buy now and pay later on all the stuff we need (and probably don’t).
Head of Afterpay Touch Group Nick Molnar said he’s “excited” to bring Afterpay to Target customers, which is set to offer more choice in the market, Business News Australia reports.
"A partnership with Target provides an incredible opportunity for Afterpay to continue to offer its customers more choice and will further drive our millennial to mass consumer expansion strategy," he said.
"Layby has been a core offering for department stores and we're excited to bring buy-now-pay-later to the next generation where customers can receive the products up front."
Shares in Afterpay shot up two cents on the Australian Stock Exchange at $4.17 following the announcement.
Afterpay works by paying the retailer for the purchase, leaving the customer to pay down fortnightly instalments to Afterpay.
There’s no interest or up-front fees, and customers are only hit with late fees if they miss a payment.
The company has already partnered with a number of Aussie businesses including Jetstar and Myer.