Afterpay share price pushes higher on Qantas partnership

The Afterpay Ltd (ASX:APT) share price is pushing higher after announcing a partnership with Qantas Airways Limited (ASX:QAN) Frequent Flyers…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Afterpay Ltd (ASX: APT) share price is pushing higher on Monday after announcing an exclusive new partnership with Qantas Airways Limited (ASX: QAN).

The buy now pay later provider's shares were up 2% to $68.80 at one stage, but have since pulled back a touch.

The Afterpay share price is currently 0.7% higher at $67.95.

What did Afterpay and Qantas announce?

This morning Afterpay and Qantas announced the launch of a new partnership allowing Qantas Frequent Flyers to earn Qantas Points with the buy now pay later platform.

From later this week, Qantas Frequent Flyers will be able to earn up to 5,000 Qantas Points when they link their membership number to their Afterpay account.

Qantas Loyalty CEO, Olivia Wirth, notes that earning points with Afterpay will be advantageous for the large number of users classed as frequent buyers. These are users that maximise their points earn on everyday spending and not just flights.

She added: "Financial services is one of the most popular ways to earn points in the program, it's the quickest and easiest way to build your points balance. With our 13 million members all having different spending habits and financial preferences, it's great to be able to offer more options and more rewards."

Afterpay's CEO and Co-Founder, Anthony Eisen, was pleased to be partnering with one of Australia's largest and most recognised loyalty programs. He feels it will provide significant upside for Afterpay customers.

Mr Eisen said: "We are always looking for ways to add value for our customers and this partnership between two iconic Australian brands is a great way to reward them for shopping with Afterpay. Now our customers can earn Qantas Points on their purchases at no additional cost, just by using Afterpay as they normally would."

How do you earn points?

If you're not an Afterpay customer already, you'll earn 500 Qantas Points for joining and adding your Qantas Frequent Flyer membership number to your Afterpay account.

After which, you'll earn 1 Qantas Point per $1 spent, up to a total of 5,000 Qantas Points.

If you're already an Afterpay user, you'll have to wait a little longer before you start accruing points. Once you've spent $1,000, you'll earn 1 Qantas Point per $1 spent. This is also up to a total of 5,000 Qantas Points.

Though, it is worth noting that the offer to existing Afterpay customers is limited to the first 50,000 members who link their membership number to their Afterpay account.

Foolish Takeaway.

I think this is a positive move by Afterpay and could pull in more new customers of an attractive demographic.

Though, given the limitations on the points you can accrue, it won't be sending you to Europe or even interstate on a Qantas plane any time soon.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A woman wearing headphones looks delighted and animated on news she's receiving from her mobile phone that she is holding close to her face.
Share Gainers

Why Brainchip, Fortescue, Mesoblast, and QBE shares are racing higher today

These shares are starting the year in a positive fashion. But why?

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why Catapult, DroneShield, Lendlease, and Weebit Nano shares are sinking today

These shares are starting the year in the red. What's happening?

Read more »

group of friends jump on the beach
Broker Notes

6 ASX All Ords shares lifted to 'strong buy' consensus ratings for the new year

Brokers upgraded these ASX stocks last month.

Read more »

A man holds his head in his hands, despairing at the bad result he's reading on his computer.
Share Fallers

These were the 5 worst performing ASX 200 shares in 2024

Why did investors sell off these shares last year? Let's find out.

Read more »

Happy woman holding white house model in hand and pointing to it with a pen.
Share Market News

How ASX shares vs. property performed in December

The median Australian home value fell for the first time in almost two years last month.

Read more »

A man wearing glasses sits back in his desk chair with his hands behind his head staring smiling at his computer screens as the ASX share prices keep rising
Best Shares

Did you own the 5 best ASX All Ordinaries shares of 2024?

The ASX All Ords Index slightly outperformed the benchmark ASX 200 in 2024.

Read more »

A male ASX 200 broker wearing a blue shirt and black tie holds one hand to his chin with the other arm crossed across his body as he watches stock prices on a digital screen while deep in thought
Share Market News

5 things to watch on the ASX 200 on Thursday

Here's what to expect when the market returns in 2025.

Read more »

Woman on her phone with diagrams of tech sector related elements linking with each other.
Best Shares

Best and worst performing ASX sectors of 2024

The top sector of the ASX 200 delivered almost a 50% gain in 12 months.

Read more »