A Square Deal for Afterpay
Afterpay is the darling of the financial world following its acquisition by US payments fintech Square in the largest acquisition in Australian corporate history, valued at $39 billion AUD. It caps off a monumental run for the pioneer of the Buy Now, Pay Later market. The payment scheme allows its target users to purchase goods upfront and pay them off over 4 fortnightly installments. So is this credit by another name operating in a regulatory loophole? Or is this modern day form of lay-by the future of payments? Square seems to think so, but will they be paying in 4 fortnightly installments too?
Guests:
- James Sleep, policy advisor at Financial Counselling Australia
- Marta Khomyn, post-doctoral researcher in economics at UTS
- Lien Duong, senior lecturer in economics and finance at Curtin University