ANZ on BNPL quest

Ian Rogers

ANZ will be underway on the buy now, pay later bandwagon, some time in the first half of next year.

ANZ "will from next year offer instalment repayments to existing credit card customers who are already approved under responsible lending laws," the Financial Review reports.

ANZ has reached a deal with Visa, to progress the offer.

Initially, ANZ customers will only be able to access the feature at merchants using payment terminals and services of its partner Quest.

Over the last two months CommBank (under StepPay branding) and Citi (promoted as Spot Pay) have either initiated buy now, pay later credit offers. Suncorp has also outlined plans to crash the segment next month.