Trade Me sellers can now offer interest-free deferred payments to buyers, as the auction site teams up with Afterpay, an Australian “buy now, pay later” online payments provider.
Similar to placing an item on layby, Afterpay will allow customers to get the item in their hands straight away but pay it off in four fortnightly instalments.
Trade Me’s head of marketplace, Stuart McLean, said Trade Me was pleased to offer an easy and flexible payment option to both its buyers and sellers.
“Sellers receive their money straight away from Afterpay and can ship the goods straight away - the buyer then makes their payments to Afterpay.”
Mr McLean said adding more payment options on Trade Me would help sellers, and increase the purchasing power for buyers.
“Afterpay is all about giving our buyers more flexibility to buy what they want. It’s perfect if they want to spread out their shopping to minimise the pain on their wallet.”
“We’re aiming to have a significant number of listings with Afterpay available as a payment option when we launch later this year,” says McLean.
“We think our sellers will see the value of this payment option. Offering Afterpay on listings is totally optional and there is a small fee to sellers, but from what we’ve seen in Australia it helps drive sales by giving buyers a convenient and flexible way to pay.”
Afterpay was founded in 2014, and will be available on Trade Me later in the year.
The Afterpay addition follows Trade Me’s acquirement of Ping, Buyer Protection and Book a Courier.
Afterpay will be available in most Trade Me Marketplace categories for items from $20-800.