In a pre-register event, National Australia Bank has invited customers to register for the scheduled launch of the Buy Now Pay Later service, tagged as ‘NAB Now Pay Later’.
National Australia Bank is offering its customers $1,000 and is able to divide the expenditure into four parts and pay it at any Visa enabled outlets and activate NAB Now Pay Later in the respective digital wallets and which would enable the option to make the payment in person or online.
To target and gain traction with customers, NAB is offering this current product with no interest, no account fees, and no late fees.
Recommended: Mastercard’s Strategic Partnership With Saudi Arabia’s HyperPay
Rachel Slade, NAB group executive personal banking mentioned that the current product has been developed to help customers who use installment payment methods for their needs. This product NAB Now Pay Later will empower and make the users more aware of the choices and the freedom that comes along with it. Being existing clients the bank also is on the safer side as they know their customer behavior and financial patterns so as to evaluate and act accordingly.
NAB Now Pay Later has been scheduled to launch in July and has been built on a robust and secure platform that enables instant credit decisions and secured transactions.
Recommended: Accenture & Microsoft Assisting Natwest to Upgrade Legacy Architecture
Slade also mentioned the process to initiate the product is achieved very quickly as they have data inputs and know the customer details and history which enable quick disbursal rates, because of which the customer can leverage the platform and buy desired products for themselves.
The security features include biometric fraud detection and CVV which is dynamic in nature to add an extra layer of security to protect users from any fraud or cybercrime.
The launch of NAB Now Pay Later follows in the heels of Australia’s foremost no-interest credit card, StraightUp, in September 2020.
Recommended: Hepsiburada’s Hepsipay Launches ‘Buy Now Pay Later’ Feature for Hepsipay Wallet Users
[To share your insights with us, please write to sghosh@martechseries.com]
