Qantas signs frequent flyer deal with pay-later platform Afterpay

Qantas and Afterpay said Monday they had agreed to allow users of the airline’s frequent flyer programme to benefit by using the buy-now-pay-later firm’s payment platform. Under the agreement, Qantas frequent flyers could earn points after linking their membership number to their Afterpay account, the firms said in a joint statement to the stock exchange. The deal is the latest boost for Afterpay, an alternative credit firm offering small loans to mostly to online shoppers, which has benefited from a shift to online shopping during the coronavirus crisis. Afterpay’s shares rose nearly 2% in early trade against a 0.3% drop on the ASX200 index , hitting a record high scaled in the previous session. New users on Afterpay’s platform would earn 500 Qantas points for joining and linking their Qantas membership, and thereafter 1 point for every A$1 spent through the platform, the companies said. Existing users would need to spend A$1,000 through the platform, after which they would earn the same rewards. The offer for existing Afterpay users however was limited to the first 50,000 customers who sign up for the deal.<br/>