ANZ partners Visa for BNPL offering

Visa is joining forces with ANZ to bring its installment payments product to Australia, enabling the bank’s credit card customers to buy now, pay later at the checkout.

If eligible customers use their ANZ credit cards in the store area and purchase from participating online merchants, they will be able to pay for the payment period shown on the selected page at the time of purchase.

Quest, a merchant focused on payment technology, is partnering with Visa to enable businesses to access Visa payments quickly and efficiently.

A recent Visa survey found that 90% of participants were likely to spend part of their bank’s money, and 85% said it was part of the money. This will improve the relationship with their card issuer.

Another study in Marqeta shows that three in four Australians increased their use of BNPL products during the epidemic, leaving them the world leaders in terms of acceptance in both the UK and US.

Mike Shalin, Managing Director of ANZ Paper and Personal Loans, said: “We are always looking for products and services that add real value to our customers and have the ability to make payments as important and necessary items. There are many to our customers.

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