Afterpay launches IN STORE at Kmart sending shoppers into a tailspin – as thousands declare ‘this is dangerous!’
- Australian shoppers are in a tailspin over the launch of Afterpay in Kmart stores
- The buy now, pay later service was made available for online orders in 2018
- But this is the first time it will be offered in physical Kmart outlets
Australian shoppers are in a tailspin over the launch of Afterpay in Kmart stores for the first time ever.
The buy now, pay later service will roll out in shops from 12.30pm on Friday, three years after it was first offered for online purchases in September 2018.
The news sent social media into meltdown after a Kmart representative confirmed the payment option will be available in outlets nationwide.
A post about the launch, which has amassed more than 1,500 ‘likes’ since it was shared on Facebook late Thursday night, sparked a wave of excitement.
Australian shoppers are in a tailspin over the launch of Afterpay in Kmart stores for the first time ever
‘OMG – I’m going to be so broke,’ one woman wrote.
‘Finally!’ said a second, while a third added: ‘Well this is dangerous.’
Afterpay allows customers to purchase an item and split the bill into four fortnightly installments that are interest-free – provided you pay on time.
The company makes about 15 percent of its revenue through late fees, with $10 charged for payments not processed before the due date followed by a further $7 if the sum remains unpaid a week afterwards.
While the concept has revolutionised shopping for millions around the world, the ease of purchasing without immediate expenditure has been flagged as a slippery slope to significant debt.
The tech giant expanded into brick and mortar stores in April this year, with the launch of a virtual card that allows shoppers to make in-store payments without taking out a loan or paying upfront.
Customers can make a purchase by tapping an icon in the Afterpay app which activates the card in the digital wallet app and can be used to make purchases with Apple Pay or Google Pay.
Kmart is the latest in a long line of Australian retailers to roll out the service in-store.
The physical payment option was launched five years after the brand first introduced its in-store barcode solution in Australia and New Zealand in 2016.