PSA: You can now use Afterpay to shop on eBay
The partnership gives consumers the ability to shop everything from everyday essentials to pre-owned items in interest-free instalments.
With the recent boom of buy now, pay later services, it comes as little surprise that online giant eBay is the latest to throw its hat in the ring and implement Afterpay as a payment option.
The retailer today announced that it would give 40,000 small and medium businesses access to the popular payment service, allowing shoppers to pay off their purchases in small instalments.
In a release, Afterpay CEO and co-founder Anthony Eisen, said that the payment option would be available on everything from essential items to homewares, tech and even pre-owned goods.
The news is great timing for consumers, as many brick and mortar stores have recently shut their doors across Australia to limit the spread of COVID-19. The impact of this has driven ever more customers online in a bid to find products that they are no longer able to shop elsewhere.
Now, under Afterpay's scheme, consumers can shop across millions of items on eBay's platform and break up their total purchase cost into four equal instalments. These instalments are then paid back over an eight week period and, so long as they are paid on time, remain completely interest-free. You can visit our guide to Afterpay to learn more.
The partnership with Afterpay will also likely come as a relief for small businesses, with eBay Australia's managing director, Tim MacKinnon, stating that "Australian businesses need all the support they can get right now".
In a release, MacKinnon said that, for many smaller businesses, "offering Afterpay could be what makes or breaks a sale".
Eisen echoes the sentiment, saying, "The partnership between eBay and Afterpay comes at such a crucial time, where Australians are wanting more control over their budget and to avoid high interest debt traps. It's also just in time to help small businesses.
"Two in three Afterpay merchants believe it provides them access to new customers, so we are confident the tool will help small and medium businesses navigate these challenging headwinds."
Main image: Getty