HELL takes aim at ‘buy now pay later’ schemes with AfterLife Pay

Customers will be eligible for AfterLife Pay, with those chosen invited to sign a real amendment to their wills, allowing the cost of their pizza to be collected upon death. No interest or fees will apply, and the agreement is legally binding. 

Ben Cumming, CEO of HELL, says AfterLife Pay came about after they were approached by buy now pay later (BNPL) providers who wanted HELL to offer the service to its customers. 

“We’re seeing a growing number of people using the schemes to buy essential items like food, and we think it’s taking it a step too far when you’ve got quick service restaurants like ours being asked to offer BNPL for what is considered a treat – especially when you consider people are falling behind in their payments and 10.5 percent of loans in NZ are in arrears,” he says.

This week, Australia’s federal government announced it would regulate the BNPL industry to avoid financial abuse by the lending schemes. However, while the New Zealand government has announced it will also regulate the industry – applying the Credit Contracts and Consumer Finance Act 2003 to the sector – final regulations are yet to be confirmed, including the proposal that affordability assessments only be carried out for purchases that are $ 600 or higher.

“An investigation from Consumer NZ describes the schemes as ‘addictive’ and says being approved is easier than getting a credit card – when you add in the late fees and penalties, people can get into debt fast. We don’t think people should do this for their pizza – we would prefer they purchase HELL within their financial means,” Cumming says. 

Initially a trial, anyone interested in AfterLife Pay can apply, with 666 people then selected; the offer has also been extended to 666 people in Australia. They will then sign an online legally binding agreement, amending their will, for the total of their chosen order. 

Cumming says pizza is one of the simple joys of life, and AfterLife Pay means people can get their fix without having to dip into the bank account immediately.

“AfterLife Pay is a light-hearted campaign that reinforces HELL’s stance on buy now pay later schemes – you can have your pizza and eat it too without any pesky late fees or penalties”.

You can apply for AfterLife Pay here and read the scheme’s terms and conditions. Applications are open from today.

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