Have you ever found yourself longing to buy something but financially restricted? The Australian financial company Afterpay has set out to prevent just that. It has allowed many people to buy what they want without worrying about a tight budget.
In this article, we will discuss what Afterpay is, how many people in Australia use it, how many businesses use it, and just how popular it is.
What is Afterpay?
Afterpay Limited is an Australian financial company that is widely known for its buy now and pay later service. It is the leading company that offers this service, and is available at a wide range of stores in Australia, United Kingdom, United States, New Zealand, France, Spain, Italy, and Canada.
Afterpay offers its service both in-app and in-stores. Customers can pay their dues over the next six weeks without interest. The due amount is paid as four instalments, each amounting to 25% of the total.
Signing up for Afterpay is free and no credit card check is required. In order to use Afterpay, the purchase needs to be more than $35, and the customer has to be above 18 years of age with a working credit or debit card.
Who founded Afterpay?
Afterpay was co-founded by Nick Molnar and Anthony Eisen back in the year 2014. Nick Molnar graduated from the University of Sydney, while his then neighbour — Anthony Eisen — graduated from the University of New South Wales.
In June 2017, Afterpay joined Touchcorp — one of its technology suppliers — to form the Afterpay Touch Group.
How many people use Afterpay in Australia?
Around 3.6 million people used Afterpay in Australia and New Zealand in the year 2021. The number of people using Afterpay has increased over the past years, from 2.8 million in 2019 to 3.3 million in 2020.
How many businesses use Afterpay?
According to a news release, more than 48000 businesses were affiliated with Afterpay as of March 2020, with a global customer count of 8.4 million people.
How popular is Afterpay?
Since its launch in 2014, Afterpay has grown globally and is now available in eight countries as an online and in-store service, with over 8 million customers.
Afterpay also has multiple awards to its name. It was ranked as the best company in the Buy Now, Pay Later category, besting Klarna and Sezzle. It is also the most popular Buy Now Pay Later service in Australia and New Zealand. Finally, Afterpay ranks second in the top 10k, top 100k, and top 1 million sites in the “Pay Later” category.
Let’s wrap it up!
Afterpay is the leading global company when it comes to the “Buy Now, Pay Later” service. It has more than 8 million customers and is affiliated with more than 48000 businesses.
As of 2021, Afterpay was used by 3.6 million people in Australia and New Zealand.
