Department store group, Myer Holdings
(ASX:MYR) has entered a two-year contract with retail payment platform provider, Afterpay Holdings Ltd
(ASX:AFY).
From the second quarter of this year, Myer will offer Afterpay’s “buy now, receive now, pay later” service to its online customers. Afterpay’s service does not require end-customers to enter into a traditional loan or pay upfront fees or interest.
Afterpay says its partnership with Myer will broaden its offering to new demographics, and expand its online retail reach.
Other retailers which use Afterpay’s payments platform include Telstra, Booktopia, Tarocash and Alannah Hill.
Yesterday, Myer shares closed 0.44% higher at $1.14, while shares in Afterpay finished 3.64% higher at $2.28.
