Buy now, pay later attracts high consumer recognition and investor enthusiasm. Now, one of the world’s largest transaction companies is joining the bonanza here.
Global payments behemoth PayPal’s entry into the Australian buy now, pay later space is probably a case of a rising tide lifting all boats rather than sinking the fortunes of Afterpay and Zip.
PayPal’s service offering, which is best described as a digital wallet linked to credit and debit cards on a secure platform bringing together buyers and sellers, ought to bring new users to buy now, pay later rather than cannibalise customers on the 12 other platforms.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
