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
  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance

High Interest Savings Account (< $250k)

  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance
020001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • $0 monthly account fee
  • Dip into your savings without losing your bonus interest

Home Saver

  • $0 monthly account fee
  • Dip into your savings without losing your bonus interest
02000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
No monthly fees
  • Download the App to open your account
  • Get better visibility of your spending within App!
  • Deposit $200 per month to activate bonus interest
No monthly fees

Save Account

  • Download the App to open your account
  • Get better visibility of your spending within App!
  • Deposit $200 per month to activate bonus interest
4000$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

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
020000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

HomeME Savings Account ($0 - $100,000)

    02001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

    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)

        05001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
        • Maximum Age - 24

        Goal Saver

        • Maximum Age - 24
        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 (31 years +) ($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

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

                    ANZ Save

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

                      Savings Maximiser (<$100k)

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

                        Young Saver Account

                          0501$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                          Save up

                            010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
                            • Earn up to 5.40% pa by depositing $1,000 in the previous month
                            • No account fees
                            • Easy access to your money

                            Saver Account (<$250k)

                            • Earn up to 5.40% pa by depositing $1,000 in the previous month
                            • No account fees
                            • Easy access to your money
                            02000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                            Bonus Saver (<$1 Million)

                              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 April 14, 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.