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    BNPL

    This Month

    Afterpay co-founder Nick Molnar.

    Nick Molnar to step up at Block, will report to Jack Dorsey

    On the three-year anniversary of Afterpay’s blockbuster sale to Block, its founder Jack Dorsey has promoted Nick Molnar to head of sales.

    • James Eyers

    July

    Zip Co group chief executive Cynthia Scott.

    Resurgent Zip raises cash and pays big break fee to eliminate its debt

    Zip has indicated it will push the accelerator on growth in the United States despite regulators investigating whether it has violated consumer protection laws.

    • James Eyers
    Zip Co group chief executive Cynthia Scott.

    Zip Co in $267m raise to pay down debt; Goldies, UCP on ticket

    Fund manager sources said the placement is expected to price at about $1.52 a share, representing a 5.3 per cent discount to the last close.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
    There are plenty of jobs in renewables.

    ‘Everyone wins’: Financing renewables at scale

    Brighte looks to boost the renewables transition through its ‘one-stop shop’ model, winning the Banking and Financial Services category.

    • Prashant Mehra

    June

    Apple Pay will come under RBA regulation when the PSRA bill is passed.

    RBA flags BNPL fee crackdown in broader probe into credit cards

    The central bank’s head of payments says it will launch a review of regulations as soon as it is handed the power to do so under new legislation in parliament.

    • Updated
    • James Eyers
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    ANZ is deepening its partnership with Apple.

    Apple to drive iPhone users towards buy now, pay later loans

    The global technology giant will upgrade Apple Pay to bring buy now, pay later-style payment options to the point of sale. ANZ is the first major bank to join up.

    • James Eyers

    Blackstone chief spends $13m to move down Mosman hill

    Craig Newman and his wife, Anna, have seized a chance on the tightly held Balmoral slopes.

    • Bonnie Campbell
    Afterpay co-founder Nick Molnar in Sydney on Tuesday.

    Boost for Afterpay as Block drops plans for Cash App in Australia

    Afterpay Plus will make buy now, pay later more ubiquitous, says Nick Molnar, in his first public comments on the growth strategy in Australia post-acquisition.

    • James Eyers
    Afterpay is concerned about having to do income and spending checks, like credit cards have to.

    Afterpay says Treasury has overreached on BNPL regulation

    Consumer groups, banks and even the corporate regulator say they also have concerns about Labor’s proposed laws to regulate buy now, pay later as credit.

    • James Eyers

    May

    Larry Diamond is returning to Australia from where he will chair Zip US.

    Zip’s Larry Diamond returning to Sydney, says US mission accomplished

    Diamond says he heeded warnings from James Gorman, setting Zip onto a profitable path in the US, where he expects BNPL to keep winning share off credit cards.

    • James Eyers
    A regulatory threat is hanging over the buy now, pay later innovation that made Nick Molnar and Anthony Eisen, billionaires.

    Payments innovation under threat from RBA

    Buy now, pay later, which revolutionised Australia’s highly concentrated payments system, is under potential threat from increased regulation.

    • Tony Boyd
    Cash App is growing, including by incorporating Afterpay. But regulators have been scrutinising its compliance controls.

    Buy now, pay later surges as Dorsey realises Cash App vision

    Block’s BNPL volumes are rising as Afterpay is rolled into Cash App, which has 24 million active users in the US. The stock jumped more than 10pc on Friday.

    • James Eyers

    April

    Zip Co appointed Cynthia Scott as its new chief executive in August 2023 amid a broader restructure of the company.

    Zip Co’s turnaround story lands the BNPL on takeover watchlists

    No doubt CBA’s internal M&A team adheres by its mandate of looking at all options to maximise shareholder value.

    • Sarah Thompson, Kanika Sood and Emma Rapaport

    March

    ‘Lack of transparency’ to force credit licences on BNPL

    Buy now, pay later players will have to hold a local credit licence to operate in Australia and take reasonable steps to ascertain a customer’s financial position.

    • Lucas Baird
    BNPL comeback: Cynthia Scott from Zip, Sebastian Siemiatkowski from Klarna, Nick Molnar from Afterpay and Tim Cook from Apple.

    Buy now, pay later is pulling off the improbable – a comeback

    Block and Zip valuations are rising as peak interest rates pass. Klarna is considering listing in the United States. Is the sector’s winter finally over?

    • James Eyers
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    February

    Anthony Eisen, Jack Dorsey and Nick Molnar.

    Nick Molnar backs Block’s bid to reshape US banking

    The billionaire Afterpay co-founder Nick Molnar tells AFR Weekend he’s been working with Jack Dorsey on Cash App, and they’re ready to tackle US banks.

    • James Eyers

    January

    Zip will report a first-half cash profit between $29m and $33m on February 27.

    Zip shares jump on path to profitability

    Zip shares opened 15 per cent higher on Monday morning, in a sector still weighted down by negative sentiment.

    • James Eyers

    December 2023

    Zip raises $150m corporate loans at 15pc

    The buy now, pay later company says it has refinanced its corporate loan, the latest in a long-running effort to clean up its balance sheet.

    • Jonathan Shapiro
    RBA governor Michele Bullock at the AusPayNet Summit in Sydney on Tuesday.

    Bullock says banks should bear more costs of moving banknotes

    The RBA governor’s comments come amid negotiations with cash transport firm Armaguard, which has warned it needs an injection of funds to operate.

    • Updated
    • James Eyers
    Jack Dorsey, whose formal title is “Block Head”, bought Afterpay in 2021.

    Afterpay’s bad debts climb, just like its costs

    Accounts filed by the Block-owned buy now, pay later company for the 18 months to December 2022 show scale eluded the Australian business.

    • Nick Bonyhady