Afterpay announced on Wednesday that select retail stores in the US will begin offering both Apple Pay and Google Pay this month, with the services to be made available in Australia "in the coming months". 

This will allow Afterpay customers to use the buy now, pay later (BNPL) platform through the mobile wallet tech on their phone, instead of by opening the Afterpay app and using the barcode, further simplifying digital payments. 

Need somewhere to store cash and earn interest? The table below features introductory savings accounts with some of the highest interest rates on the market.

Provider

4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace

Savings Account (Amounts < $250k)

  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
*Rate varies on savings amount
  • Deposit $500 per month to get bonus interest
  • No balance growth needed or card transactions necessary.
  • Tiered bonus rates apply. Earn our best rate on your first $100k. (TMDs at ubank.com.au)
  • 5.50% p.a. available on total savings up to $100K.
  • 5.00% p.a. applies to savings between $100K-250K.
*Rate varies on savings amount

Save Account (>$100,000)

  • Deposit $500 per month to get bonus interest
  • No balance growth needed or card transactions necessary.
  • Tiered bonus rates apply. Earn our best rate on your first $100k. (TMDs at ubank.com.au)
  • 5.50% p.a. available on total savings up to $100K.
  • 5.00% p.a. applies to savings between $100K-250K.
4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • For deposit amounts $0 - $49,999
  • New ING personal savings customers receive an introductory bonus 0.50% p.a. variable kick starter rate for the first 4 months on balances up to $500,000.
  • Reverts to variable ongoing rate. T&Cs apply.

Savings Accelerator (Amounts < $50000)

  • For deposit amounts $0 - $49,999
  • New ING personal savings customers receive an introductory bonus 0.50% p.a. variable kick starter rate for the first 4 months on balances up to $500,000.
  • Reverts to variable ongoing rate. T&Cs apply.
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month

Savings Maximiser (<$100k)

  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month
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HomeME Savings Account ($0 - $100,000)

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    Growth Saver ($1 - $25k)

      010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
      For customers aged 14-35 years
      For customers aged 14-35 years

      Future Saver Account ( < $50k)

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        Goal Saver

          010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

          Boost Saver

            00.011$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

            Reward Saver Account($0-$100k)

              01000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

              Bonus Saver Account (Amounts < $100k)

                0201$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                Reward Saver Kick Start (Amounts ≤ $1m)

                  00.010$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                  Life (< 30 years) (Monthly deposit)

                    5000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                    NetBank Saver

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                      ANZ Save

                        050$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                        Young Saver Account

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                          Save up

                            02000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                            Bonus Saver (<$1 Million)

                              010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                              Saver Account (<$250k)

                                000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                                Smart Saver Account (Under 25)

                                  Important Information and Comparison Rate Warning

                                  All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of July 15, 2024. View disclaimer.

                                  The repayment structure will still work the same way, with customers paying the first of four instalments at the point of sale before paying the remaining three fortnightly, without paying upfront fees or interest. 

                                  Afterpay co-founder and US CEO Nick Molnar said it's critical that Afterpay helps its retail partners drive growth in the second half of the year as retail re-emerges around the world. 

                                  “Afterpay and Google Pay give shoppers the ability to choose either physical or online shopping while still being able to budget their own money and avoid expensive loans, interest and fees — which has shown to attract new customers and drive more sales conversion for our retail partners,” Mr Molnar said.

                                  "As shoppers return to main street, we are more committed than ever to support their business needs."

                                  This agreement is the first of its kind between a BNPL provider and mobile wallets, which have significantly driven digital payment adoption over the last 12 months. 

                                  It also has the potential to drive significant growth for Afterpay. 

                                  According to a recent global study by research firm Bernstein, Apple Pay itself already accounts for 5% of global card transactions and is set to reach 10% by 2025 (this doesn't even account for Google Pay). 

                                  March 2020 saw a record number of digital wallet transactions made in Australia, with 36 million digital wallet transactions made overall - the previous record stood at 34 million in December 2019. 

                                  That's a 17% increase from February 2020 and vastly outpaced the average monthly growth rate of 6.7% from the previous six months. 

                                  Afterpay itself meanwhile has over 3.1 million customers in Australia and New Zealand, and a recent report by Worldpay shows the overall BNPL market is set to double its market share by 2023. 

                                  [Read: Westpac and ME/Heritage Bank finally switch on Apple Pay]

                                  "As a proven solution for driving incremental sales and new customer growth, we are thrilled to introduce our new omni-channel solution to U.S retailers as they begin to open their doors and bring shoppers back to their physical stores," Mr Molnar said. 

                                  Afterpay's company data shows 89% of US customers who use Afterpay make payments with debit cards. 

                                  The adoption of Afterpay by these mobile wallet platforms could further drive the decline of credit cards, which has been well documented recently

                                  APTApple

                                  What Afterpay will look like in Apple Pay. Source: Afterpay.