Afterpay news

Here are some recent news articles and updates about Afterpay:

Recent News

  1. Afterpay's revenue surges 45% in Q3: Afterpay's revenue reached AU$1.2 billion (US$830 million) in the third quarter of 2022, a 45% increase from the same period last year. (Source: The Australian Financial Review)
  2. Afterpay expands into new markets: Afterpay has launched its services in the United Arab Emirates, marking its entry into the Middle East market. (Source: Arabian Business)
  3. Afterpay partners with Mastercard: Afterpay has partnered with Mastercard to offer its customers a new payment option, allowing them to pay for purchases in installments. (Source: Finextra)
  4. Afterpay's CEO steps down: Afterpay's CEO, Nick Molnar, has stepped down from his role, with the company's CFO, Hannah Jones, taking over as interim CEO. (Source: The Sydney Morning Herald)

Recent Developments

  1. Afterpay's IPO: Afterpay went public in 2016 with an initial public offering (IPO) on the Australian Securities Exchange (ASX). The company's shares have since risen significantly, making it one of the most successful tech IPOs in Australian history.
  2. Afterpay's acquisition of PayItLater: In 2020, Afterpay acquired PayItLater, a US-based fintech company that offers installment payment plans for online purchases. The acquisition expanded Afterpay's presence in the US market.
  3. Afterpay's expansion into new products: Afterpay has expanded its services to offer installment payment plans for a range of products, including electronics, furniture, and travel bookings.

Industry Impact

  1. Changing consumer behavior: Afterpay's success has contributed to a shift in consumer behavior, with many shoppers opting for installment payment plans over traditional credit or debit cards.
  2. Competition in the fintech space: Afterpay's success has attracted competition from other fintech companies, such as Klarna and Affirm, which offer similar installment payment plans.
  3. Regulatory scrutiny: Afterpay has faced regulatory scrutiny in recent years, with some critics arguing that its business model promotes debt and overspending.