Until now, buy-now-pay-later options like Afterpay were for only for material goods, not for consumables like food and drink. That is changing, with the new payment app Payo entering the Melbourne dining scene.
After launching in Brisbane, Payo is now working with some 500 restaurants in Melbourne to offer an "eat now, pay later" model. You pay for a quarter of your meal at the time, then another quarter the following Wednesday, the third quarter the Wednesday after that and the last quarter the following Wednesday.
Payo doesn't charge interest, but it does charge a pretty hefty late fee of $10 per late instalment, up to a maximum of $40. So if you do want to use the service, make sure you'll be able to pony up when required. The payment service works with takeaway and delivery as well as in-person dining at participating venues.
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