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Customers will only be able to use Afterpay for in-store purchases, but there is no minimum spend required to access the service.
Afterpay allows users to split the upfront cost of a purchase into four, interest-free payments over six weeks.
Users who miss payments are charged a late fee, which is capped at 25 per cent of the total purchase price or $68, whichever is lower.
Afterpay’s Australian country manager Katrina Konstas said the service will allow customers to split the cost of expensive renovation projects.
”Australia is a nation of DIYers with a passion for their homes and gardens, and nothing embodies this more than our national love for Bunnings,” Konstas said.
“We are excited that Afterpay will now be available to Bunnings’ shoppers, which will help Aussies to create inviting spaces within their homes, while balancing their budget.”
To use the service at Bunnings stores customers must first download the Afterpay app and add an “Afterpay card” to their digital wallet.
The decision to offer a buy now, pay later service comes as many Australians feel the pressure of rising inflation, forcing many to cut back on household expenses such as renovation projects.
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