February
The Zip v Afterpay buy now, pay later rivalry is back on
Zip says it is growing faster than its competitors in the world’s biggest market – the United States – after reporting record first-half earnings.
December 2024
Short seller accuses Sezzle of ‘sketchy’ practices, low-quality loans
The buy now, pay later group delisted from the ASX earlier this year and has described the allegations as “misleading and out of context”.
Metrics moves to compulsorily acquire BNPL underdog despite objections
Shareholders have accused Metrics of “grossly underestimating” the company’s valuation, “systematically devaluing the company through sham capital raises”, “selective disclosure” and “predatory behaviour”.
Zip co-founder Larry Diamond sells $100m in shares after resigning
The co-founder sold 30 million shares in the buy now, pay later player, a day after he resigned to set up a family office.
November 2024
Seven charts that show the mystery of Australia’s cash hoard
As cash use plummets in Australia, banknotes linger – stashed for emergencies, savings, or used in black-market trade.
Fintech offers $8m bridging loans in minutes as Citi backs $250m facility
Bridgit uses AI to approve loans for those looking to buy their next home before their existing one has sold. It claims an average approval time of about four hours.
Inside a decade-long rollercoaster ride with Afterpay’s Nick Molnar
Ten years ago this week, the buy now, pay later firm’s founder sold some jewellery to his business partner Anthony Eisen in a novel way: pay-in-four.
October 2024
Anthony Eisen bows out at Afterpay
The co-founder of the buy now, pay later pioneer told staff at Block, which he joined after the takeover, he would step away from an executive role.
Zip banks on interest rate cuts as transaction volumes soar
The buy now, pay later group has endured a difficult two years and returned to growth, particularly in the US, where the majority of sales are processed.
September 2024
Apple, Google respond to payment cost heat by backing eftpos
The US tech giants will enable “least-cost routing” for new cards on their smartphones to try to help merchants save costs by avoiding Visa and Mastercard.
Digital debt collector worth $350m after big money raise
Business booms for InDebted when cost-of-living hits consumers. It has attracted new investors, including a super fund to back a rare valuation increase.
Regal throws its weight behind ‘takeover target’ Zip Co
The fund manager has built a sizeable position in Zip from its small-cap fund over the past 12 months, starting at about 30¢
August 2024
Mastercard argues cash costs more than card in bid to stymie fee limit
A Boston Consulting Group report commissioned by the global payments giant has found there are plenty of “hidden” costs to using cash, which could be reduced.
Zip nails comeback, predicts huge US transaction growth
Zip shares took a breather after a strong run driven by its pivot to profitability.
Nick Molnar to step up at Block, will report to Jack Dorsey
On the three-year anniversary of Afterpay’s blockbuster sale to Block, its founder Jack Dorsey has promoted Nick Molnar to head of sales.
July 2024
Resurgent Zip raises cash and pays big break fee to eliminate its debt
Zip has indicated it will push the accelerator on growth in the United States despite regulators investigating whether it has violated consumer protection laws.
Zip Co in $267m raise to pay down debt; Goldies, UCP on ticket
Fund manager sources said the placement is expected to price at about $1.52 a share, representing a 5.3 per cent discount to the last close.
‘Everyone wins’: Financing renewables at scale
Brighte looks to boost the renewables transition through its ‘one-stop shop’ model, winning the Banking and Financial Services category.
June 2024
RBA flags BNPL fee crackdown in broader probe into credit cards
The central bank’s head of payments says it will launch a review of regulations as soon as it is handed the power to do so under new legislation in parliament.
Apple to drive iPhone users towards buy now, pay later loans
The global technology giant will upgrade Apple Pay to bring buy now, pay later-style payment options to the point of sale. ANZ is the first major bank to join up.