Afterpay
Fintech

BNPL Afterpay is better known in Australia than payments rivals such as PayPal and BPay

- July 28, 2022 2 MIN READ

The 25-year legacy of local payments platform BPAY and US rival PayPal count for little in the fast-moving fintech space with buy-now-pay-later market leader Afterpay now better known by a majority of Australians according to the latest Roy Morgan Digital Payments Report. The report found that 17.5 million Australians aged 14+ (82.8%) are now aware of buy-now-pay-later… Read more »

Politics

Labor’s new financial services minister says cryptocurrency exchange and BNPL regulations are coming

- June 8, 2022 2 MIN READ

The new federal financial services minister Stephen Jones says the Labor government will regulate cryptocurrency exchanges, as well as applying credit laws to the buy now, pay later (BNPL) sector. Speaking to the Guardian Australia,  Jones vowed to continue the roadmap drawn up by the previous government and former treasurer Josh Frydenberg, consulting with the… Read more »

Fintech

NAB is getting into BNPL

- May 26, 2022 2 MIN READ

In another blow for the already crowded buy-now-pay-later (BNPL) sector, another major bank is getting into the space, with NAB announcing its own pay-in-four instalments offering. The bank’s opened pre-registration for customers today for the NAB Now Pay Later product They will be able to access up to $1,000, split purchases into four payments, use… Read more »

Other tech

Hospitality marketplace Foodbomb seasons COB supplies with BNPL option

- March 14, 2022 2 MIN READ

Hospitality wholesale ordering platform Foodbomb has introduced a buy-now-pay-later (BNPL) product to help restaurateurs and cafe owners manage supplier payments. Foodbomb’s solution, BompPay, gives users 21-days of credit to pay wholesale suppliers without additional cost. Suppliers are paid immediately. Founder and CEO Paul Tory said that recent discussions with clients revealed that more than 40%… Read more »

Fintech

The small detail in Zip’s results that spell out the longer term challenge for BNPLs

- March 1, 2022 3 MIN READ

Zip shares fell 7.7% following resumption of trade on Tuesday after the company announced a $491 million all-scrip takeover of US BNPL Sezzle. The merger, offering a 31.7% premium on Sezzle shares based on the 30-day volume weighted average price, is another sign of an expected consolidation of the crowded BNPL market following Square’s takeover… Read more »

Scalapay
Funding

Wollongong fintech Scalapay bags a staggering $692 million Series B

- February 24, 2022 2 MIN READ

Australian-founded, Europe-focused buy-now-pay-later startup Scalapay has raised A$692 million in a debt and equity Series B. The round was led by Chinese tech powerhouse Tencent and US VC Willoughby Capital, with participation from existing backer Tiger Global, Gangwal, Moore Capital, Deimos, and Fasanara Capital. The fintech already hit unicorn status last year following a $210… Read more »

small business, payment
Fintech

A BNPL just released one of fintech’s greatest innovations – it lets people pay for something when they buy it

- February 23, 2022 < 1 MIN READ

Buy-now-pay-later (BNPL) fintechs have built their brands over the last several years selling the convenience of “budgeting” your expenses. You can have your cake now, eat it too, then pay it off over 4 interest-free payments. But there’s been growing concerns about the sector, with nearly two-thirds of Australian financial counsellors supporting clients struggling with… Read more »

piggy bank broken
Fintech

The RBA is getting ready to move the goalposts on a key advantage for BNPLs – stopping retailers adding a surcharge

- October 25, 2021 3 MIN READ

The honeymoon is about to end for the buy-now-pay-later (BNPL) sector when it comes to the fees they charge retailers. As the likes of Zip, Afterpay and Humm have stolen market share from the credit card sector, one competitive advantage they had over alternative payment methods was the support of the Reserve Bank of Australia… Read more »

India, shopping
ASX

Zip is pouring $70 million into an Indian BNPL

- September 23, 2021 2 MIN READ

ASX-listed buy-now-pay-later Zip is ramping up its offshore presence in one of the world biggest markets, taking a US$50 million (A$70m) stake in Indian BNPL ZestMoney. The six-year-old Indian fintech is the country’s market leading BNPL, with more than 11 million registered users, more than 10,000 online merchants and  75,000-plus physical stores on its customer… Read more »

Simone Mancini, Johnny Mitrevski.
Funding

US VC Tiger Global just turned Scalapay, a BNPL from Wollongong, into a unicorn fintech with a $210 million series A

- September 10, 2021 2 MIN READ

Australia has a new unicorn fintech after Tiger Global led a $210 Series A round into European-focused payments fintech Scalapay. Baleen Capital and Woodson Capital also came aboard as new investors alongside existing backers Fasanara Capital and Ithaca Investments.  Scalapay was founded just two years ago by Australians Simone Mancini and Johnny Mitrevski. Its buy… Read more »