The rules for Afterpay, Zip and other ‘buy now, pay later’ providers are changing. What…
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More than 6 million Australians have used the "buy now, pay later" lending services offered by Afterpay, Zip and more…
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AfterPay
Afterpay Australian Fashion Week 2023: Cue to stage first solo show in 55 years
LoadingSo, how does a brand like Cue, which dresses working women, prepare for a possible recession or drop in discretionary spending in 2023?Says Melanie: “We’ve been through recessions before ... we have this vehicle and machine behind us…
Afterpay flags potential credit checks as regulation looms
Afterpay has opened the door to conducting credit checks on some customers as it prepares for regulation of buy now pay later products (BNPL), but it argues that treating the sector the same way as credit cards would be excessive.As the…
Afterpay to shut Westpac-backed banking app
Buy now, pay later (BNPL) player Afterpay is shutting down its Westpac-backed banking app less than a year after launching it, as its new US owner gets ready to introduce its own finance app in Australia.Afterpay on Friday said it would…
Jack Dorsey stands by Afterpay deal despite BNPL bloodbath
In the earnings call, Block said Afterpay’s loan losses had improved slightly, though competition was intense, and it remained closely focused on managing the risk of bad debts in a weakening economy.Block shares were down 5.5 per cent to…
Afterpay warns of spike in scam texts ‘across the financial services industry’
“If you receive an SMS asking you to confirm your Humm account details by clicking a link, please treat it as suspicious.”It advised customers not to verify account details via SMS, and recommended that they block any suspicious number and…
Afterpay founders smash CEO pay records as bonuses for ASX bosses hit new high
Eisen and Molnar took the top spot after they both exercised 1.5 million share options which gave them the right to buy those shares at just $1 when the actual share price of Afterpay was near $90.The options were awarded and exercised in…
Nobbling Afterpay would stifle competition and protect bank profits
If you never get up to date, you’re not charged interest or any further late fees. Eventually, Afterpay ends its relationship with you and writes off the debt.The individual amounts people borrow are usually for just a few hundred dollars.…
Afterpay owner Block sees role for crypto in ‘everyday payments’
The largest players in Australia’s financial system, however, have been more cautious towards bitcoin and other cryptocurrencies.Commonwealth Bank is the only big local bank that wants to give consumers access to crypto assets. CBA’s crypto…
Apple’s BNPL entry will have Afterpay and co nervous
Consumer payments-focused startups Klarna, Afterpay and Affirm Holdings have a had a good run at changing how people shop and growing rapidly until recently. Now, much bigger players look like they’re gearing up to streamroll the little…