National Australia Bank to launch its BNPL offering

Under the scheme, NAB customers will be able to access up to USD 1,000, split purchases into four payments, use it anywhere Visa is accepted and add NAB Now Pay Later to their digital wallets for online and in person payments.

Unlike other instalment payment or pay-in-four products, NAB’s offering has no late fees, no interest, and no account fees.

Set for launch in July 2022, NAB Now Pay Later has been built for mobile with a range of new technology, including instant credit decisions and safety and security features.

The virtual card also features biometric fraud detection and a dynamic CVV that refreshes regularly to protect customers from fraud and theft.

NAB Now Pay Later follows the bank's launch of StraightUp, Australia’s first no interest credit card, in September 2020.