Openpay falls into receivership as economic reality crashes into Australian BNPL players
Australian buy now, pay later player Openpay has fallen into receivership, becoming the first major local player to buckle under the weight of successive interest rate hikes.
Afterpay, OpenPay and Klarna change “potentially unfair and unclear terms” for UK customers
A group of BNPL providers have agreed to update their contract terms in the UK, following scrutiny from the Financial Conduct Authority.
“A natural extension”: OpenPay becomes first BNPL player to offer split payments on elective surgery
In the latest flex on the buy-now, pay-later trend, OpenPay will allow users to split payments for some elective surgery procedures.
ASIC report reveals troubling consequences of BNPL, with 20% of users skipping meals to make payments
According to ASIC, some users are suffering financial stress to make BNPL payments, even skipping meals or missing bills. But the regulator has not imposed any new rules.
Controversial ‘no-surcharge’ rule missing as Afterpay, Zip commit to self-imposed consumer crackdown
Buy-now-pay-later giants Afterpay and Zip have signed onto a new industry code of conduct to improve consumer protections... but merchants have missed out.
“Over a barrel”: Should Afterpay’s ‘no-surcharge’ rule for merchants be axed?
Should buy-now-pay-later services such as Afterpay be able to prevent merchants from passing on their fees to customers? Merchants say yes.
“If the ride is more fly, then you must buy”: Commonwealth Bank joins forces with Snoop Dogg to take on Afterpay
Commonwealth Bank has joined Snoop Dogg as a shareholder in buy-now-pay-later giant Klarna, with the intention of taking on Afterpay.
As buy-now-pay-later grows, will the likes of Afterpay, Zip and Humm displace credit cards?
Now out the other side of regulatory scrutiny, BNPL players such as Afterpay and Humm are looking to a future with broader demographics.
Afterpay asks investors for $300 million to chase 400% increase in underlying sales by 2022
Afterpay is going cap in hand to investors for support in realising ambitious growth targets by expanding overseas and "scaling" its SME business.
A legal loophole: How Afterpay and other buy-now-pay-later providers skirt consumer laws
In light of the rise of buy-now-pay-later offerings, should the law be changed to make a distinction between credit and debt?
