Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Afterpay to go live on eBay Australia in 2020

Afterpay TouchAustralian financial technology company Afterpay Touch Group has entered into an agreement with eBay Australia to offer its services on the online marketplace. The agreement will enable eBay Australia to give 40,000 Australian small and midsize businesses the ability to access the Afterpay service for their eBay customers.  The service is expected to go live in 2020.

“The partnership represents Afterpay Australia’s largest online arrangement to date, which allows both companies to align on a mutual approach of adding value to merchants by helping them access new and repeat customers,” the company said in a trading update on Tuesday.

In addition, the fintech firm reported global underlying sales of $2.7 billion in the 4-months to 31 October 2019, up 110 per cent compared to the same period last year. At the end of October, the fintech had 6.1 million active customers globally.

In the domestic market, in-store continues to be the key growth driver for the company, representing 23 per cent of total underlying sales in FY20 year to date. Afterpay in-store is currently available at almost 29,000 shopfronts, up from 23,600 at the end of June 2019, the company said, adding that it has over 3 million active customers in ANZ and over 33,000 merchants, as at 31 October 2019.

“Strategic agreement with Mastercard in Australia and New Zealand will support our mid-term growth,” the company added. It also recently entered into a partnership with Bupa Dental and is in the process of onboarding brands such as Marks & Spencer, David Jones, and Myer.

Additionally, Afterpay has entered into a subscription agreement with US-based technology investor, Coatue for a private placement worth A$200 million. Proceeds from the placement will be used for platform expansion opportunities, Afterpay said.

Further, Afterpay has appointed Gary Briggs as a Non-Executive Director. He will assume the role from January 1, 2020.

Related IBS Intelligence Research

Related Posts

NAB

NAB to recruit bankers and advisers for high net wealth clients

National Australia Bank (NAB) announced that it will recruit 50 new bankers and advisers, as part of its new strategy to provide high net wealth clients with a single point of access for their financial needs, ranging from wealth creation, business growth to retirement needs and philanthropic investment. JBWere CEO and leader for NAB Private, […]

This post is only available to members.

Read More »

EQ launches new automated complaints management product

EQ has announced that it is launching a new automated complaints management product for the financial services industry, EQ Complaints Professional. The new solution is expected to enable firms to enforce their FCA compliance immediately as well as continually as regulation changes. Andrew Edler, MD of EQ Charter, commented, “We are delighted to bring this […]

This post is only available to members.

Read More »
bank, FinTech, neobank, smartbanks, challenger banks, Asia

Australia’s big 4 banks welcome the launch of open banking

The Competition and Consumer (Consumer Data Right) Rules went live on July 1, in Australia. This has been welcomed by the big 4 banks of the country – ANZ, Westpac, Commonwealth Bank and NAB where they will be sharing their customers’ data with third parties, when requested by the customer. Angus Sullivan, CBA’s Group Executive […]

This post is only available to members.

Read More »

Lendio facilitates $8 bn in PPP loans to 100,000 small businesses

Lendio, a leading marketplace for small business (SMB) loans, announced that the company has till now facilitated $8 B in Paycheck Protection Program (PPP) loans for 100,000 small businesses. The firm’s partnership with 300 SBA-approved financial institutions and FinTech leaders has helped the company to secure COVID-19 relief funds for several underserved segments of the […]

This post is only available to members.

Read More »