As consumers evolve as digital natives in the e-commerce space, BNPL services within Australia have begun their worldwide expansion. AfterPay Touch (ASX: APT) is pursuing the European market and iSentric (ASX: ICU) is bringing this concept to life across Malaysia and Southeast Asia.“BNPL is a global phenomenon and I expect will ultimately be available in various guises in any market where there is payments and mobile payments infrastructure"
Martin Pretty, Director of Equitable Investors
This week, AfterPay has seen trade close to $100/share. It is worth making note of the company's share price of $8.90 in March and now they continue their stride with progressive momentum as AfterPay is valued at $25.5bn. AfterPay purchased the European BNPL service Pagantis that operates in France, Spain, Italy and soon to be Portugal. The expansion is headed to the European Union which the company identified as "...the next logical step" due to the large millennial population, vast fashion and beauty retailers and reliance on debit cards.
Earlier this week, iSentric (ASX: ICU) announced their proposed name change to IOUpay Limited as they realign their brand focus to fintech and digital payments. The focus for this service is surrounding data driven product packaging and BNPL payment processing.
Although cash is king throughout Southeast Asia, "...mobile payments and e-wallets are highly competitive and growing markets, so you can see BNPL being adopted as a product differentiator" says Pretty.
Read Stockhead's full article here.
To learn more about iSentric, the extensive mobile banking and digital payments sphere:
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Barclay Pearce Capital Management Pty Ltd is the holder of an Australian Financial Services Licence (Number: 503261). The information provided on this website is general in nature only and does not constitute personal advice. The information has been prepared without taking into account you or your company’s objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. You should seek independent financial advice and read the relevant disclosure statements or other offer documents prior to making an investment decision about a financial product. The material contained on the website is for information purposes only and should not be construed as an offer or solicitation or recommendation to buy or sell financial products.
Barclay Pearce Capital acknowledges the Traditional Owners of the land where we work and live, the Gadigal of the Eora Nation and pays our respects to Elders past, present and to the children of today who are the Elders of the future. We celebrate the stories, culture and traditions of Aboriginal and Torres Strait Islander Elders of all communities who also work and live on this land.