Afterpay

About

Afterpay is an Australian buy-now-pay-later platform that lets consumers split purchases into interest-free installments and integrates with merchants' online and in-store checkout systems.

Mission

Afterpay is an Australian shop-now-pay-later company that lets consumers split purchases into interest-free installments and integrates with merchants' retail presence. The company emphasizes a customer-centric, interest-free approach and aims to add significant value for its merchant base. In May 2020 Tencent acquired a roughly 5% equity stake in Afterpay valued at about A$390 million (approximately $251.55 million) based on Afterpay’s closing price. Co-founders Anthony Eisen and Nick Molnar welcomed Tencent as a substantial shareholder and highlighted opportunities to learn from Tencent’s experience. Tencent said the investment aligns with global consumer trends toward interest-free payments and cited potential collaboration in areas such as technology, geographic expansion and future payment options on the Afterpay platform. The filing notes Tencent’s fintech scale—its Weixin Pay facilitates over 1 billion commercial transactions per day—and positions Tencent as a strategic partner with expertise in digital payments, cloud and platform services.

Quick Facts