In an Australian first consumers will be able to earn points as they pay off their BNPL debt.
Virgin Australia has announced a partnership with the buy now pay later (BNPL) app bundll.
From today,Velocity Frequent Flyermembers who already use or sign up to a new bundll account, will be able to earn points as they pay off their account balance.
It's the first partnership in Australia that allows BNPL users to be rewarded when they pay off a debt, instead of when they make a purchase.
"This partnership enables Velocity members to earn points just by managing their finances, their way," said acting CEO of Velocity Frequent Flyer, David Marr.
"In the current climate, Australians of all ages are placing increased importance on financial responsibility. We're proud to be the first airline loyalty program in Australia to reward our members who use BNPL for paying down their balances," said Marr.
What is bundll?
bundll works similarly to other BNPL solutions likeAfterpayorZip Payand is owned and powered by the same company that runshumm.
You have a set "repay day" to pay off each week's purchases which can be up to 14 days later. There are late fees but no interest charged ever.
Read our bundll review
"bundll has gained significant traction with gen Z and millennial customers as they look for a BNPL product they can use everywhere... Australians also love their rewards, and this partnership between bundll and Velocity Frequent Flyer will now give our customers the opportunity to earn Points as they manage their money," said bundll CEO Rebecca James.
How do you sign up?
To start earning Velocity points with bundll, users first need to connect their 2 accounts.
- Existing Velocity members without bundll can download the bundll app, sign up and link their accounts to receive a bundll Velocity digital card and start earning points.
- Existing bundll customers just need to connect their Velocity membership number to their account. Don't have a Velocity Frequent Flyer account?Sign up for freeand follow the steps to link your bundll app in the "Profile" section.
How do you earn points?
- Download the bundll app and follow the steps to sign up and link your Velocity account.
- Receive a bundll Velocity digital card.
- Shop online or in-store using the card generated in the app.
- Pay off your balance, receiving 1 point for every $5 repaid to your bundll account.
Until 30 September 2021the first 3,000 Velocity members who download and are approved for bundll will receive 5,000 bonus Velocity Pointsonce they make their first purchase (new customers only, no minimum).
Additionally, earn 500 bonus Velocity Points when you successfully refer brand new users to bundll.
Can I pay for Virgin Australia flights with bundll?
There's no word yet on when/if you'll be able to pay for Virgin Australia flights with bundll or any other BNPL solution.
As of September 2021, BNPL service Afterpay can be used tobook travel with 19 sites, which includes Jetstar.
Jetstar allows customers topay for flights with Afterpaybut only some eligible fares earnQantas Points.
How does this compare to the Qantas and Afterpay partnership?
Afterpay and Qantas previously had a partnershipthat let users earn points on purchases.
This deal was considerably more limited because:
- It was only available to the first 50,000 users
- You had to spend at least $1,000 with Afterpay before you could start earning any points
- You earned 1 Qantas Point for every $1 spent but had a yearly cap of earning 5,000 Qantas Points
This meant to earn the maximum amount of points possible new users had to spend at least $6,000 to earn the total of 5,000 Qantas Points.
So far Velocity hasn't announced any cap to the number of Velocity Points you can earn in a year and there is no set amount you must spend before being able to earn points.
there are no words for the stupidity
(20min delay)