Bunnings Diversifies its Buy Now, Pay Later Offerings

By Sam McConnell | 27 Nov 2018

It’s no secret that Bunnings’ e-commerce strategy is still in its infancy, but it has made moves of late that indicate the company is ready to expand its online offerings. Its latest buy now, pay later partnership, is proof of that.

Bunnings has announced a partnership with buy now, pay later solution provider, Openpay, in a bid to improve its in-store and online customer experience.

“We are always listening to our customers and team on ways we can provide a better experience,” said Bunnings’ Managing Director, Michael Schneider. “This type of payment method has been on the top of our customers’ wish lists, with more than 500 customers requesting a buy now, pay later option,” he continued.

“We are really excited to have Openpay available for our Australian customers from early December.”

Openpay’s Chief Revenue Officer, Dion Appel, echoes Schneider’s excitement, saying his keen to see how the retailer’s adoption of alternative payment methods helps it expand its footprint in the home improvement retail sector.

“We are excited to extend our partnership with one of Australia’s largest businesses and leading brands in the home improvement space. This partnership supports our strategic growth plans for the Australian market, as we develop our offering and products to cater to consumers’ demands for smarter ways to pay,” Appel said.

Bunnings with join the ranks of other retailers like Nike, Spotlight and Anaconda, who already offer Openpay.

This news comes after Bunnings announced a partnership with Zip Pay and Zip Money earlier in the month, giving consumers access to lines of credit between $250 and $30,000, subject to lending checks.

“We are both thrilled and proud to partner with a truly historic Australian brand in Bunnings,” said Zip CEO and managing director Larry Diamond at the time. “We believe Zip will be a great fit for Bunnings, not only for life’s everyday necessities but also for those larger aspirational home improvements, providing their customers with a better way to pay, over time, interest-free.”

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