Suncorp Bank has announced a new interest-free buy now, pay later offering which can be used to make payments wherever Visa is accepted.
Suncorp’s “PayLater” will be available for purchases higher than $50 and be split into four fortnightly instalments. A limit of $1000 will apply once the bank determines eligibility, which it will assess through a credit check.
PayLater will include both a physical and digital Visa debit card, meaning customers can use it in-store and online.
“Some customers prefer to use credit cards, while others want simple, short-term payment options from a trusted and secure bank,” said Suncorp CEO Clive van Horen.
PayLater will be available to Suncorp customers from November through the Suncorp app.
Suncorp also announced that all new debit cards, including PayLater cards, will be made from recycled materials.