The head of eBay Australia says the online shopping giant won't boot local buy now,pay later operators off its platform once PayPal's new offering becomes available.
The chief executives of Australian buy now,pay later companies have batted away investor concerns over payment giant PayPal's entry into the sector.
The buy now,pay later outfit is on the hunt for new partnerships as the sector continues to make the most of a coronavirus-induced shift towards online shopping.
Shares in buy now,pay later operator Splitit soared as much as 35 per cent after the company reported a huge jump in sales and a bevy of fresh customers.
A top buy now,pay later executive has warned that rivals attempting to"gouge and profiteer"will take the biggest hit from the coronavirus pandemic.
Retail,real estate,and travel stocks were savaged as the ASX dropped 6.4 per cent to the lowest level in four years on recession fears.
The buy now,pay later providers are facing rising questions about their bad debts and funding arrangements amid a potential recession.
Afterpay rival Zip Co is in a legal battle to retain the right to use its name after Brisbane Broncos sponsor Firstmac commenced legal action in the Federal Court alleging infringement of its ZIP trademark.
Afterpay rivals,Splitit and Zip Co,lead a troika of tech stocks which recorded gains of up to 30 per cent on Monday following the release of record quarterly revenue numbers.
How can a company built on such a simple idea - pay for goods in four simple installments at no cost - be worth so much money?
Afterpay has added its voice to calls for data sharing among buy now,pay later vendors,to weed out financially vulnerable consumers.