Afterpay announces partnership with Myer

Umm, so this is massive.

For impulsive shoppers like myself, this is either the best or the worst news you’re going to hear all week.

Innovative (and extremely dangerous) retail payment platform, Afterpay, will now be available through Myer.

As of May this year, customers will now have the option to ‘buy now, pay later’ using Afterpay at Myer. At this stage, it’s online only. But beggars can’t be choosers.

The partnership has been given a trial run over a two-year period and is broadens the Afterpay offering into new retail product verticals.

Afterpay managing director Nick Molnar said the way people in Australia shop is changing. Apparently we want options and we want to be in control of the shopping and purchasing process.

Um, duh.

“We feel privileged to work with Myer, one of Australia’s most iconic retail brands, and are excited to introduce Myer’s online customers to the benefits of Afterpay. The partnership with Myer will give customers even greater choice over their Afterpay purchases. Afterpay’s retail value proposition is resonating strongly with Australian retailers and consumers, now with over 500,000 active customers and over 3,100 retailers,” he said.

Afterpay’s customer base has also catapulted to over half a million users since revealing its results mid-February. It’s a brand that places a heavy focus on expanding to broader retail categories, targeting millennials who are great spenders while also being price-conscious and savvy. So basically me, when I am extremely broke but extremely emotional, and in dire need of some retail therapy.

However, the more meaningful spenders, Generation X and Baby Boomers, are increasingly embracing the service. Maybe they have emotional days, too?

Either way, this partnership opens doors to a future of possibilities for the brand. Good news for me, bad news for everyone I’ll be borrowing money off in the very near future.


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