For three days each week in April 2014, a seasoned product manager named Lulu Young, an engineering manager named Paul Connolly, and a 24-year-old jewellery salesman, Nick Molnar, met in a windowless Melbourne conference room to hash out the features and functionality of a financial product that existed only in Molnar’s head.

The goal was to appeal to two constituencies at once: online retailers, always eager to convert virtual browsers into actual shoppers; and consumers, some of whom didn’t have credit cards but, Molnar thought, might still like a way to get their goods first and pay for them over time.

Bloomberg Businessweek