Cryptocurrencies have mainly taken off as speculative assets,but the US fintech giant thinks more Australians will use them for payments.
Diane Smith-Gander says the buy now pay later group has a positive story to tell but the entire sector missed a fundamental shift in the market.
US fintech giant Block has given a strong signal that it could to launch its hit financial app in Australia,which allows peer-to-peer payments as well as trading stocks and cryptocurrencies.
Many of the buy now,pay later firms that sought to replicate Afterpay’s success on the ASX have fallen on hard times. And analysts are forecasting more pain is on the way for these groups.
Celebrities and dignitaries turned out in droves for the Handa Opera on Sydney Harbour on Friday night.
Families borrowing from “subprime lenders” are loading up on buy-now-pay-later products and credit card debt just to cover their essentials.
About 20 per cent of buy now,pay later customers used such services for essential goods and services such as food and utilities,a Choice survey found.
Afterpay co-founder Nick Molnar has signalled the top priority for the company under its new owner Block will be to accelerate its growth.
The US group led by Twitter founder Jack Dorsey has cleared the final regulatory hurdle needed to complete the biggest takeover in Australian corporate history.
The Consumer Financial Protection Bureau said it’s demanding information from the firms because it’s concerned that users are piling up debt and consumers’ personal data could be misused.
The nation’s payment system is rapidly changing in the face of emerging technologies. The Coalition plans sweeping reforms to improve its operation.