piggy bank broken

B2B BNPL BizPay, which hoped to list at a $400 million valuation, has been placed in voluntary administration

- November 28, 2023 2 MIN READ

Invoice payment buy now pay later (BNPL) fintech BizPay was placed in voluntary administration last week Jonathon Keenan and Peter Krejci from BRI Ferrier were handed the books as administrators on November 23. The company’s website says no new loans are being issued while a restructure is being explored. Ironically for a fintech offering a… Read more »

BNPL, Afterpay, Klarna

Buy now pay later is turning into a massive problem, rather than solution, for younger New Zealanders, trapping them in debt

- September 7, 2023 4 MIN READ

There are few stores without an Afterpay logo displayed on the door, or that don’t offer Laybuy at their online checkout. And these schemes are particularly popular with younger consumers. But what price might these buyers be paying for the conveniences of buy now, pay later? Our new research investigated how young New Zealand adults… Read more »


The Australian government will apply responsible lending rules to buy now pay later fintechs

- May 23, 2023 2 MIN READ

The government is moving to regulate buy-now-pay-later (BNPL) services under the Credit Act and force companies like AfterPay, to follow a set of responsible lending obligations. Financial Services Minister Stephen Jones on Monday that he wanted to maintain innovation and competition in the market but stop the “harmful effects of poor marketing practices and poor… Read more »

Afterpay, Nick Molnar, Anthony Eisen

Apple Pay is about to mow down Afterpay to become Australia’s leading BNPL

- April 13, 2023 2 MIN READ

The first mover advantage that turned Block-owned Afterpay enjoyed since its launch nine years ago is about to end, with the world’s most valuable tech company, Apple, set to become Australia’s leading buy-now-play-later (BNPL). The Roy Morgan Digital Payments Report reveals it’s taken just 7 years for Apple Pay to build its local market penetration,… Read more »

road kill, wombat

ASX-listed BNPL Openpay handed to receivers just a week after ‘record’ results after failing to secure working capital

- February 6, 2023 3 MIN READ

ASX-listed Buy-now-pay-later (BNPL) fintech Openpay has been placed in the hands of receivers after it failed to bank working capital from its key funder. The payments platform has been shut down, effectively sealing the company’s fate. The collapse comes a week after the company’s quarterly results on January 31, which flagged delays in receiving the… Read more »


More than a quarter of young people in financial trouble this year used ‘buy now, pay later’ services

- December 21, 2022 3 MIN READ

Buy Now, Pay Later (BNPL) services have dramatically changed the landscape of personal lending, largely by being easy to access and not charging interest – thus avoiding national credit laws. In the 2021-22 financial year, according to data from the Reserve Bank of Australia, the number of active BNPL accounts in Australia rose from 5… Read more »


The Commonwealth Bank’s US$300 million investment in BNPL Klarna has turned from golden egg to millstone

- November 1, 2022 2 MIN READ

Commonwealth Bank-backed fintech Klarna’s Australian foray is starting to look like a disaster for the Swedish buy now pay later startup. Banking Day reports that just two years after its launch, an EY audit of Klarna Australia’s CY2021 performance reveals a net loss of $56 million, with revenue falling 71% on its first year of… Read more »


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 »


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 »


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 »