Afterpay – Competitor Profile
Afterpay offers buy now pay later (BNPL) services, enabling consumers to pay for purchases in installments. Initially an online payment solution, it is now available for in-store purchases in select countries.
Founded in October 2014, it subsequently expanded to New Zealand (in September 2017), the US (May 2018), the UK (August 2018), and Canada (August 2020). It offers its services in the UK under the Clearpay brand, which it expanded to Spain, France, and Italy in March 2021. With 16.2 million customers and 100,000 merchants, it is becoming a strong alternative to credit cards as well as a key payment solution among people with limited access to traditional credit.
Afterpay entered the banking services space with the launch of Money by Afterpay, a money management app in Australia offering current accounts, savings accounts, and debit cards in collaboration with Westpac.
IIn July 2017 Afterpay merged with technology provider Touchcorp to form Afterpay Touch Group. In November 2019, the group changed its name to Afterpay Limited. In January 2022, Block (formerly known as Square) acquired Afterpay.
The report provides information and insights into Afterpay including –
– Detailed insight into its business
– Comprehensive coverage of its products and services
– Comparative assessment with key alternative payment solutions
– Information on its performance, including its revenue model
– The company's important events and milestones
Scope
– Afterpay was founded in Australia as a payment option for online shopping.
– In May 2018, Afterpay launched in the US in collaboration with fashion and lifestyle retailer Urban Outfitters.
– In August 2020, Afterpay acquired Spain-based BNPL solutions provider Pagantis, ensuring Afterpay had the necessary regulatory license and means to expand in Southern Europe.
– In January 2022, Block (formerly known as Square) acquired Afterpay.
Reasons to Buy
– Gain insights into Afterpay's business operations and key events.
– Gain insights into its product portfolio and revenue model.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Key Players
Table of Contents
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