A new online Australian start-up, Gimmie, shared plans to disrupt the rent-to-own retail market with a unique buy-now-pay-later model.

Consumers can choose to pay the ‘Cash Price’ in 90 days with zero interest or opt for a ‘Plan Price’ with instalments over one to two years. If a payment is missed, there is a late fee of just $10.

The retailer co-founded by Scott Roworth and Nadine Tuckey, offers more than 900 products across furniture, appliances, and technology from big brand names including Breville, Dyson, Electrolux, LG and Samsung.

Gimmie said it is a responsible lender, working with customers to ensure that they can meet payment obligations in the committed time frame. There are compulsory credit and ID checks with payment plans approved within minutes.