CWH enters buy now, pay later market

Chemist Warehouse Woden, September 2013.
Chemist Warehouse believes there is not enough competition under the current pharmacy model.

Chemist Warehouse has reportedly taken on a stake in a buy now, pay later service

According to The Financial Review, the discounter has “thrown its weight” behind a new entry into the BNPL market, Fu.

Writing in Street Talk, Sarah Thompson, Anthony Macdonald and Tim Boyd report that the banner group has committed to introduce the Fupay Card in its 480 stores around the country, as well as over its online offering.

Fupay is being marketed as a “responsible BNPL” which helps users align their spending with their income, the AFR reports.

“Chemist Warehouse is eagerly getting behind the Fupay product due to its unique cash flow management and responsible spending features… we feel that this is a really positive development in the buy now pay later segment which will greatly benefit our customers,” said Chemist Warehouse chairman Jack Gance.

Chemist Warehouse is not a newcomer to the BNPL sector: in mid-2019 it was one of four Australian pharmacy banner groups to be part of an Afterpay pharmacy trial.

Meanwhile The Times UK has reported that Chemist Warehouse is set to enter the Irish market and is “to give Dublin dose of its medicine”.

According to Irish company information provider, Chemist Warehouse was set up on Monday, 19 August 2019, from which date an application to register as a new company became effective. Its current partial address is in County Dublin.

Referring to Chemist Warehouse as the “McDonalds of pharmacy,” the Times says that the discount giant has “linked up with an Irish pharmacy entrepreneur to establish a subsidiary here and is believed to have already lined up its first outlets in Dublin”.

The discount giant continues to expand internationally, recently opening its first South Island, New Zealand store in Christchurch, following the successful opening of 12 North Island pharmacies; it also continues to expand its offer in Asia.

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