Shares in Melbourne-based buy-now-pay-later fintech Afterpay are up more than 5% in the first hour of trade this morning to top $100 after the company announced it had signed a deal with Westpac to offer savings accounts and cash flow tools to its Australian customers. The partnership will allow Afterpay (ASX:APT) to provide Westpac (ASX:… Read more »
Consumer fintech FelixGroup (ASX: FXL) – rebranding under its BNPL name, Humm – has scored a major victory over the Australian Competition and Consumer Commission (ACCC) in the fight for a slice of the renewable energy sector by buy now, pay later providers. The Australian Competition Tribunal issued a summary determination today rejecting the consumer… Read more »
Swedish buy now pay later (BNPL) fintech Klarna is now Europe’s most valuable fintech – the 4th most valuable globally – following a US$650 million equity raise that values the business at US$10.65 billion (AU$14.54bn). The latest valuation nearly doubles the US$5.5 billion valuation following a US$460 million raise in August 2019. The round was… Read more »
The Commonwealth Bank has launched a near-identical “no interest” credit card just a day after NAB announced it was launching its flat fee StraightUp Card on Thursday. Aside from slightly different monthly fee rates, the only other key difference is that while NAB partnered with Visa, CBA’s “CommBank Neo” is a Mastercard product. Like StraightUp,… Read more »
Big four bank NAB has responded to the growing popularity of buy-now-pay-later services among millennials eschewing credit cards, by introducing a “no interest” credit card that instead charges a monthly fee. The NAB StraightUp Card offers credit of up to $3000, and has a “no use, no pay” feature, meaning that if there’s a $0… Read more »
The elephant entered the buy now, pay later (BNPL) room on Tuesday and the rockstar stocks of the ASX took a massive hit as a result. PayPal announced the launch of its ‘Pay in 4’ platform in the US, which mimics Afterpay’s 4 instalment solution. The announcements sent Australian-listed BNPL shares into a nosedive, with… Read more »
Buy-now-pay-later rockstar Afterpay (ASX:APT) releases its 2020 financial year results today. The company’s share price has been on a tear since it plunged to $8.90 on March 23 this year as uncertainty about the impact of Covid-19 hit markets. Last night it closed down slightly at $90.72 at Wednesday’s close, having hit yet fresh record… Read more »
ASX-listed buy-now-pay-later stocks continue to be catnip for investors with shares in Afterpay and Zip Co. both soaring to fresh highs on Monday following performance updates ahead of both companies releasing their FY2020 results on Thursday. Afterpay (ASX: APT) shares rose 4.79% on Monday to close a new record of $82.73 after announcing plans to… Read more »
US-based puy now, pay later venture Sezzle (ASX: SZL) has tapped the market for A$86.3 million (US$60m) in the second major raise for ASX-listed fintechs with soaring share prices. The company’s share price jumped more than 40% last Thursday before the ASX called a trading halt following a media speculation of the raise, which represents 8.9% of… Read more »
Investor lust for ASX-listed fintechs continued today with US-based Sezzle (ASX:Â SZL) skyrocketing more than 50% in Thursday morning trade before the ASX handed the stock a speeding ticket and placed it in a trading halt. While easing during lunchtime trade, Sezzle shares were at one stage up 54% to peak at $7.50 having started… Read more »
Buy now, pay later fintech Afterpay will raise $800 million in new equity, topped up to $1.05 billion with billionaire founders Anthony Eisen and Nicholas Molnar each selling down a 10% stake in their existing holdings in the company, worth $250 million in total, as part of the raise. Afterpay put its shares in a… Read more »
The relentless march of buy-now-pay-later (BNPL) startups such as Afterpay and Zip into the retail landscape has been confirmed in new research by Roy Morgan that found nearly 60% of Australians, 12.3 million people, are aware of the payment services. The figures in the latest Roy Morgan Digital Payments Report are up 22.1% points in just… Read more »
The Commonwealth Bank has taken the fight to buy-now-pay-later (BNPL) fintechs such as Afterpay and Zip, bringing Swedish rival Klarna to Australia. Klarna Australia launched today and is available through the CBA’s app for online shopping. The BNPL is also available to non-CBA consumers via the Klarna app. CBA announced last year that it was… Read more »
Payright co-founders Piers Redward and Myles Redward. Photo: supplied Australian payment plan fintech Payright is launching its buy now, pay later service in New Zealand in its first offshore foray. The buy now, pay later (BNPL) startup, typically for products prices between around $1,000 and up to $20,000, will start across the Tasman with direct… Read more »
Shares in ASX-listed buy now, pay later (BNPL) fintech companies have plummeted in the last 24 hours after investment bank UBS placing a sell rating on market darling Afterpay and rival Zip. Afterpay’s share price hit a record high of $37.30 on Tuesday, up more than 200% on its $12 start to 2019. But… Read more »
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