After Pay - Competitor Profile

After Pay - Competitor Profile

  • March 2021 •
  • 16 pages •
  • Report ID: 6045174 •
  • Format: PDF
After Pay - Competitor Profile

Summary
Afterpay is an Australia-based alternative payment solution that offers a buy now, pay later (BNPL) service, enabling consumers to pay for purchases in installments. Initially an online payment solution, it is now available for in-store purchases at select retailers.

Founded in October 2014, it has since expanded into four new markets: 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 has recently expanded to Spain, France and Italy in March 2021.

With 13.1 million customers and 75,000 merchants, it is gradually becoming a key payment solution among people with limited access to traditional credit.

In July 2020, Afterpay launched an in-store installment payment service in the US in partnership with Apple Pay and Google Pay. The service enables users to add their Afterpay Card to their Apple Pay or Google Pay wallet and make fortnightly, interest-free payments.

In July 2017, Afterpay merged with technology provider Touchcorp to form Afterpay Touch Group (ATG).Post-merger, Afterpay operates as the pay-later segment of the group, while Touchcorp operates as the pay-now segment.

Touchcorp offers payment technology solutions to companies operating across sectors including telecommunications, health, and convenience retail.

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 March 2021, Afterpay expanded its European service Clearpay to merchants in France, Spain, and Italy.

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.
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