article-article-body
New Zealand restaurant chain, Hell Pizza, has launched a devilish take on Buy Now Pay Later (BNPL) — pizza that you only have to pay for when you’re dead. While the chain isn’t asking for your soul, the contract is legally binding.
This may sound like a joke, but it’s very real. Hell has launched the ‘buy now pay much later’ scheme as a response to the increasing popularity of BNPL products in New Zealand.
“As the heat turns up on ‘buy now pay later’ schemes trapping a growing number of Kiwis in spirals of debt, we’re launching AfterLife Pay, where customers don’t have to pay for their pizza until they’re dead, with no late fees or penalties,” the Hell Pizza website reads.
Handpicked for you
Apple Pay just dismantled the control of banks and giant cards over merchants
Apple’s basic game plan this time is to get in ahead of the banks and regulators by using the iPhone’s tap-payments acceptance capability to open the market.
BNPL products like Afterpay will now have similar regulation to credit cards
After years of scrutiny, BNPL products such as Afterpay will now be regulated under The Credits Act. Assistant Treasurer Stephen Jones announced the move on Monday.
COMMENTS
Reader comments will be back online shortly. In the interim send us any tips or feedback via news@smartcompany.com.au.