Ticketek has become the world’s first ticketing platform to offer buy-now-pay-later services from Afterpay, the global financial technology services provider.

Afterpay will be integrated into the Australasia-facing operator’s website and apps as a payment option in the coming months.

Ticketek, owned by TEG, said the Afterpay service gives fans the option to pay for their tickets in four equal fortnightly instalments after securing their seats with the first payment.

Geoff Jones, chief executive of TEG and Ticketek, said the buy-now-pay-later option is particularly useful for customers during the expected downturn of the coming months.

“As we work on plans for the safe return of live entertainment in Australia, one of the best things we can offer fans is greater choice in how they secure tickets to future events,” Jones said.

“Ticketek with Afterpay does just that and we are thrilled to have partnered with Afterpay to offer this world-first to Ticketek fans.

“Now, more than ever, fans need payment choice. Our integration with Afterpay will give fans greater flexibility in how they pay for tickets, while further enhancing the customer experience through frictionless payments technology.”

Afterpay, headquartered in Melbourne, is currently integrated with more than 48,000 retailers in Australia, New Zealand, the US and UK, where it operates as ClearPay.

Afterpay chief executive Anthony Eisen said: “We are delighted to partner with Ticketek, which is continuing to lead the world in ticketing innovation.

“Our research shows that only 41% of Millennials use a credit card and reports show that this is even less for Gen Z, which is driving the desire to offer Afterpay’s solution for tickets, helping fans to budget and pay responsibly.

“We expect good take up from fans once big shows and events go back on sale.”