In this article


National Australia Bank to Launch BNPL Product

Industry News

Reading time

National Australia Bank (NAB) has announced the launch of a new buy now, pay later service called ‘NAB Now Pay Later’. Customers can pre-register for the service on the bank’s website.

NAB customers can now use NAB Now Pay Later to access up to $1,000 for purchases, split into four payments. The service can be used anywhere Visa is accepted and added to digital wallets for online and in person payments. In contrast to other installment payment or pay-in-four programs, NAB’s service includes no late fees, interest, or account fees.

“Hundreds of thousands of NAB clients use installment payment services, therefore we established NAB Now Pay Later to make this choice simple and digital for them,” explains Rachel Slade, NAB group executive of personal banking.

“It’s also safer than the alternatives because these people are already our clients. We are evaluating them based on our current banking partnership and their banking and credit history.”

NAB Now Pay Later, which is set to launch in July of 2022, has been created for smartphones with a variety of innovative technology, including rapid credit determinations and safety and security measures. To safeguard clients from fraud and theft, the virtual card also includes biometric fraud detection and a dynamic CVV that refreshes on a regular basis.

Seeking answers or advice?

Share your queries in the form for personalized assistance