Eat now, pay later – hospitality groups adopt BNPL service
Buy now pay later (BNPL) services such as Afterpay can now be used by consumers to pay for meals and drinks at restaurants and pubs.
This week, Australian Venue Co (AVC) became the first hospitality group in Australia to offer Afterpay services to their patrons.
By November 15, Afterpay will be available at all 160 AVC bars, pubs and restaurants around the country, including the Golden Gate Hotel in South Melbourne and The Winery in Sydney.
"We've had a lot of our customers ask for it as a payment option," says chief executive of AVC, Paul Waterson.
"Over 90 per cent of our transactions are now cashless, so this was the next logical step. I think you will find other hospitality groups embrace BNPL pretty quickly too."
Payo, a new BNPL company founded in Australia, has more than 700 venues using their service across Sydney, Melbourne and the Gold Coast, encouraging diners to "eat now, pay later".
Payo has been designed specifically for restaurants, with the app allowing customers to scan a venue’s unique QR code and the settle their food and beverage bill with Payo’s credit.
"You can only use our money in hospitality venues," says Payo chief executive Taf Chiwanza.
"We're going to keep innovating specifically for restaurants, too. It's currently possible to tip through the platform, but by the end of November you will also be able to split the bill."
Irit Jackson, 8th November 2021
