Wednesday, 30 Oct 2024

Pub now, pay later: Afterpay?s move into Australian dining venues sparks debt concerns - The Guardian Australia

Pub now, pay later: Afterpay’s move into Australian dining venues sparks debt concerns - The Guardian Australia


Pub now, pay later: Afterpay?s move into Australian dining venues sparks debt concerns - The Guardian Australia
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The expansion of Afterpay and other buy-now-pay-later products into pubs and restaurants could lead to bigger debts for people already struggling financially, consumer advocates warn.

Concerns were raised last week after news that pub giant Australian Venue Co had partnered with buy-now-pay-later (BNPL) monolith Afterpay to roll out the facility in the 160-plus venues it operates nationally.

Afterpay and other similar products like Zip Pay and PayPal have been available in retail outlets for some time but the latest development heralds the arrival of the biggest BNPL provider into the Australian hospitality industry.

Katherine Temple, the director of policy and campaigns at the Consumer Action Law Centre, said her organisation was already working with an increasing number of people struggling with BNPL debts.

“Often people are struggling with buy-now-pay-later debts on top of existing debts: credit cards, personal loans, even utility bills. So it can be a very complex debt situation that people are experiencing,” Temple told Guardian Australia.

The move to offer Afterpay and other BNPL options in pubs and restaurants was “a really concerning development”, she said, especially given the approach of the festive season.

“We’ll see a lot of people in January with a lot of buy-now-pay-later debt that they need to pay off, whether for Christmas presents or going out over the Christmas period,” Temple said.

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