Advanced Study on Buy Now Pay Later Industry

Advanced Study on Buy Now Pay Later Industry

Afterpay Limited is an Australian financial technology company operating in Canada, the United Kingdom, Australia, the United States and New Zealand. Afterpay was founded in 2015 by Nick Molnar and Anthony Eisen. In June 2017, Afterpay merged with one of its technology providers, Touchcorp, to form Afterpay Touch Group. In November 2019, the company was renamed Afterpay Limited.

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Some of the key players of Buy Now Pay Later Industry:

Afterpay, QuadPay (Zip Co Limited), VISA, Sezzle, Affirm, Klarna, Splitit, Latitude Financial Services, Flexigroup, Openpay

Afterpay is best known for its "pay later" service that allows in-store and online customers to purchase a product immediately and pay for it later with four equal refunds. Refunds are interest free, but if they are not paid every 2 weeks as required, late fees will accrue.

In January 2018, US venture capital fund Matrix Partners announced its intention to invest AU $ 19.4 million in Afterpay to support its entry into the US retail market.Afterpay was launched in the US A Mid-May 2018 with retailers such as Anthropologie, Free People, and Urban Outfitters.

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