Afterpay launches IN STORE at Kmart Australia

Australian shoppers are in free fall with the launch of Afterpay in Kmart stores for the first time.

The buy now, pay later service will be rolled out in stores starting Friday 12:30 p.m., three years after it was first offered for online shopping in September 2018.

The news collapsed social media after a Kmart representative confirmed that the payment option will be available at outlets nationwide.

A post about the launch, which has amassed more than 1,500 likes since it was shared on Facebook late Thursday night, sparked a wave of excitement.

“OMG – I’m going to be so broke,” wrote one woman.

‘Ultimately!’ said a second, while a third added: “Well, this is dangerous.”

Afterpay allows customers to purchase an item and split the bill into four bi-monthly interest-free installments, as long as you pay on time.

The company makes just under 10% of its revenue through late fees, with $ 10 billed for payments not processed before the due date, followed by an additional $ 7 if the amount remains unpaid a week after.

While the concept has revolutionized shopping for millions of people around the world, the ease of shopping with no upfront expenses has been reported as a slippery slope to high debt.

The tech giant expanded to physical stores in April this year, with the launch of a virtual card that allows shoppers to make in-store payments without taking out a loan or paying upfront.

Customers can make a purchase by tapping an icon in the Afterpay app which activates the card in the digital wallet app and can be used to make purchases with Apple Pay or Google Pay.

Kmart is the latest in a long line of Australian retailers to roll out the in-store service.

The physical payment option was launched five years after the brand first introduced its in-store barcode solution in Australia and New Zealand in 2016.