Afterpay - Competitor Profile

Afterpay - Competitor Profile

Summary

Afterpay offers buy now pay later (BNPL) services, enabling consumers to pay for purchases in installments. Initially an online payment solution, it is now available for in-store purchases in select countries.

Founded in Australia in October 2014, Afterpay subsequently expanded in the country in 2015, then launched in New Zealand (May 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 expanded to Spain, France, and Italy in March 2021. With 20 million customers and 144,000 merchants, it is becoming a strong alternative to credit cards as well as a key payment solution among people with limited access to traditional credit.

In July 2017, Afterpay merged with technology provider Touchcorp to form Afterpay Touch Group. In November 2019, the group changed its name to Afterpay Limited. In January 2022, Block Inc. (formerly known as Square) acquired Afterpay, and with this Afterpay now operates as a wholly owned subsidiary of Block Inc.

The report provides information and insights into Afterpay including - Detailed insight into its businessComprehensive coverage of its products and servicesComparative assessment with key alternative payment solutionsInformation on its revenue model and performance highlightsThe company's important events and milestonesScopeIn 2014, Afterpay was founded in Australia as a payment option for online shopping.In August 2018, Afetrpay acquired BNPL solutions provider Clearpay, enabling Afterpay to enter the UK market. It offers its services through the Clearpay brand.In January 2020, Afterpay partnered with online travel booking platform Agoda, enabling Afterpay users in Australia to make payments for their bookings on Agoda.com in four fortnightly interest-free payments.In March 2021, Afterpay expanded its European service Clearpay to merchants in France, Spain, and Italy.In December 2022, Afterpay partnered with health and beauty product provider Boots to introduce Clearpay’s installment payment option at Westfield London.Reasons to BuyGain insights into Afterpay business operations and key events.Gain insights into its product portfolio and performance highlights.Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.