BNPL, Afterpay, Klarna
Fintech

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 »

Afterpay
Fintech

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 »

Nuggets Academy Ross Lin and joyce Ong.
Fintech

Antler Investor Memo Series: Financial training startup Nuggets Academy wants to put an end to ‘death by PowerPoint’ in professional development

- April 19, 2023 3 MIN READ

Early stage investment company Antler Australia recently backed a new cohort of startups as part of its ongoing program to build great local tech companies. Startup Daily is sharing the details of each venture in the “Antler Investor Memos” series, which is designed to give you a quick,  sharp understanding of the startups and people… Read more »

Afterpay, Nick Molnar, Anthony Eisen
Fintech

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 »

Rehan D'Almedia,
Fintech

The Finnies: FinTech Australia launches new ‘positive impact’ award

- January 31, 2023 2 MIN READ

FinTech Australia has announced the new Positive Impact award, which celebrates social impact in fintech. They are now calling for entries for its seventh annual awards.  The Positive Impact award will consider the social, environmental, and economic impact of fintech companies. They introduced the new award to honour work on this within the sector.  FinTech… Read more »

Simon Beitz
Fintech

Australia gets a new bank, Alex, for Christmas

- December 21, 2022 2 MIN READ

Digital challenger bank Alex has been granted its full banking license by the Australian Prudential Regulation Authority (APRA). The approval authorised deposit-taking institution (ADI) comes 18 months after the fintech, founded in 2018 by CEO Simon Beitz, a former Suncorp exec, and Chief Financial Officer Craig Fenwick, was granted its Restricted ADI licence amid a… Read more »

Afterpay
Fintech

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 »