LatitudePay announces eight new partnerships
Latitude Financial today announced that it is partnering with eight new retailers to offer LatitudePay, Latitude’s digital payments platform that enables customers to make purchases over 10 weekly payments with no interest.
The new partners include leading national retailers Forty Winks, Prouds, Angus & Coote, Goldmark, Zamel’s and Mazzucchelli’s, along with high profile NSW retailer Bing Lee and leading kitchenware supplier Kitchen Warehouse.
Customers will be able to use LatitudePay to make purchases online or in-store at any of the eight retailers’ almost 700 physical outlets across Australia.
LatitudePay launched just one month ago and has already secured partnerships with some of Australia’s most well-known brands, including Harvey Norman, Luxury Escapes, Catch Group and The Good Guys. Today’s announcement builds on this strong early momentum.
Latitude MD and CEO Ahmed Fahour said the new partnerships meant LatitudePay now reached millions of customers in Australia across a wide range of retail segments.
“We are thrilled with the momentum that LatitudePay is gaining with merchants and their customers, who are attracted to the flexibility of paying for their purchases over 10 equal payments, with no interest,” he said.
“For many of our partners, LatitudePay is a natural extension of what we already provide with interest-free instalment options for larger purchases over $1000. LatitudePay also slashes merchant fees, held at zero for purchases under $250 until January 2021, as part of our commitment to helping them grow their businesses.
Zamel’s and Mazzucchelli’s CEO Mudit Vora said LatitudePay was a perfect fit with the price point of many of his customers.
“Latitude is a premium brand in the payments and instalments segment so we are excited to work with them and connect with their large customer base,” he said.
Bing Lee General Manager Phil Moujaes said, “Latitude has a very good track record in consumer finance and we expect LatitudePay to do well in the popular ‘buy now, pay later’ segment. We are really pleased to be a launch partner so we can offer our customers even more choice through LatitudePay.”
Creating a LatitudePay account at www.latitudepay.com, or through the online stores of partners, takes just 90 seconds and customers can get instant approval for spending amounts of between $150 and $1000.
Once signed-up, Australians can shop on their mobiles or in-store using LatitudePay and pay for purchases over 10 weekly payments, with no interest.
Every consumer undergoes a credit and ID check as part of Latitude’s ongoing commitment to acting responsibly.
LatitudePay extends Latitude's highly successful payments and instalments platform, which for more than 30 years has helped customers pay for larger purchases with interest free instalments.
Shoppers using LatitudePay face no fees or charges when they pay on time. A late fee of $10 is charged for missed payments, capped at $10 for balances less than $50, or $50 for larger balances.
Latitude Financial is a leading digital payments, instalments and lending business with 2.6 million customer accounts and over 1,950 merchant partners that operate more than 9,000 online and physical outlets across Australia and New Zealand.
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