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Afterpay Ltd

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Company Profile

Business Description

Afterpay only started its buy now pay later, or BNPL, financing product in calendar 2015, listed on the ASX in May 2016 and merged with Touchcorp (who designed and built Afterpay’s platform software) in June 2017. Its BNPL platform allows consumers to make acquisitions at merchant partners by paying instalments every two weeks. If consumers pay on time, they transact on Afterpay for free. Afterpay primarily generates revenue from receiving a margin from the merchant. Afterpay pays the merchant the full purchase price immediately on the sale, less this margin. The margin compensates Afterpay for accepting all non-payment risk, including credit risk and fraud by the consumer, and for encouraging consumers to purchase greater dollar values and transact more frequently.

Contact
406 Collins Street, Level 5
Melbourne, VIC, 3000, Australia
T +61 1300100729
Sector Technology
Industry Software - Infrastructure
Most Recent Earnings
Fiscal Year End Jun 30, 2020
Stock Type
Employees