Amazon is partnering with Afterpay to allow shoppers in Australia to use the buy now, pay later service for purchases on its website and app.
Sujit Misra, Amazon’s Director of APAC Payments, said the partnership provides customers with an additional payment option. “We’re always looking for ways to improve the shopping experience for our Australian customers,” he added.
A recent report found that younger Australians are increasingly avoiding credit cards, viewing them as financially risky. Financial stress is the main reason Gen Z consumers are moving away from traditional credit.
The buy now, pay later industry is also facing stricter regulations this year after the Australian Securities and Investments Commission (ASIC) proposed changes to the Credit Act.
